Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,150 |
| 1 Bedroom | $2,400 |
| 2 Bedrooms | $2,960 |
| 3 Bedrooms | $3,760 |
| 4 Bedrooms | $4,200 |
| 5 Bedrooms | $4,872 |
| 6 Bedrooms | $5,457 |
| 7 Bedrooms | $5,894 |
| 8 Bedrooms | $6,189 |
The ZIP code 91031 in Los Angeles-Long Beach-Glendale County stands out due to limited available data on its residents, rental percentages, median income, and median home values. This scarcity of information can make it challenging to provide a comprehensive analysis of the area's real estate market dynamics.
However, the voucher economics offer a clearer picture. The Fair Market Rent (FMR) for ZIP 91031 is set at $2540 for fiscal year 2024. Without specific market rent data for comparison, landlords should still find the FMR useful for setting reasonable rental rates that align with federal guidelines. It ensures that rents are neither too high nor too low, maintaining a balance that supports both tenants and property owners.
In the absence of detailed market rent data, it's important to note that the FMR serves as a benchmark for housing affordability and is often used to determine eligibility for housing assistance programs. Landlords accepting Section 8 vouchers in ZIP 91031 can expect to receive payments based on this figure, providing a steady income stream that is crucial for managing rental properties.
Given the lack of comprehensive data on the local real estate market, the overall data signature for ZIP 91031 can be interpreted as transitional. This suggests that while there may be some stability in the housing assistance programs, the broader real estate landscape might be evolving, making ongoing monitoring essential for landlords and small-portfolio investors.
Data Sources: FMR data from HUD (2027).
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.