Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,600 |
| 1 Bedroom | $2,900 |
| 2 Bedrooms | $3,580 |
| 3 Bedrooms | $4,540 |
| 4 Bedrooms | $5,080 |
| 5 Bedrooms | $5,893 |
| 6 Bedrooms | $6,600 |
| 7 Bedrooms | $7,128 |
| 8 Bedrooms | $7,484 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,900 | $725,492 | 0.4% | F |
| 2BR | $3,580 | $1,101,567 | 0.32% | F |
| 3BR | $4,540 | $1,667,025 | 0.27% | F |
| 4BR | $5,080 | $2,241,619 | 0.23% | F |
| 5BR | $5,893 | $2,799,514 | 0.21% | F |
U.S. Census Bureau data (2024)
The market in ZIP 91030, South Pasadena, CA, reveals a dynamic equilibrium where demand closely follows supply. With a Fair Market Rent (FMR) set at $2,950 for the fiscal year 2024, and a market rent (ZORI) slightly lower at $2,832, it indicates that rental prices are competitive but not significantly below the government's benchmark, suggesting a balanced market.
The low price-cut share of 0.2% suggests that most homes are selling close to their asking price, which implies strong demand relative to supply. However, the absence of data on days on market (DOM) prevents a definitive conclusion on whether homes are selling quickly or slowly. The median home value of $1,693,538 places South Pasadena in a high-value bracket, indicative of a robust local economy and possibly higher barriers to entry for new homeowners.
A noteworthy statistic is the 56.0% renter share. This high percentage of renters signals significant long-term housing pressure. In areas with a high proportion of renters, there is often a struggle for affordable homeownership options, leading to sustained rental demand. This can create a steady flow of tenants and support rental property values, making South Pasadena an attractive market for landlords and small-portfolio investors who are looking for consistent returns.
In summary, ZIP 91030 presents a market where demand meets supply effectively, with rental prices just below the FMR. The high renter share points to ongoing housing pressure, favoring investments in rental properties over speculative purchases aimed at flipping homes for profit. Landlords can expect a stable tenant pool, while small investors should focus on properties that offer good rental yields.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.