Section 8 Fair Market Rent (FMR) for ZIP 91040 - 2027

Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,130
1 Bedroom	$2,370
2 Bedrooms	$2,930
3 Bedrooms	$3,720
4 Bedrooms	$4,160
5 Bedrooms	$4,826
6 Bedrooms	$5,405
7 Bedrooms	$5,837
8 Bedrooms	$6,129

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

20,821

Median Household Income

$98,256

Housing Units

8,308

Renter Percentage

33.5%

Occupancy Rate

91.1%

Renter Occupied

2,539

Housing Authorities Serving ZIP 91040

Housing Authority of the City of Los Angeles (Los Angeles, CA) - 53,428 Section 8 vouchers
Los Angeles County Development Authority (Alhambra, CA) - 27,058 Section 8 vouchers
City of Long Beach Housing Authority (Long Beach, CA) - 7,862 Section 8 vouchers
Housing Authority of the City of Glendale (Glendale, CA) - 1,667 Section 8 vouchers
Housing Authority of the City of Santa Monica (Santa Monica, CA) - 1,536 Section 8 vouchers
City of Pasadena Housing Department (Pasadena, CA) - 1,525 Section 8 vouchers
Housing Authority of the City of Inglewood (Inglewood, CA) - 1,201 Section 8 vouchers
Housing Authority of the City of Pomona (Pomona, CA) - 1,119 Section 8 vouchers
Housing Authority of the City of Burbank (Burbank, CA) - 1,047 Section 8 vouchers
Housing Authority of the City of Baldwin Park (Baldwin Park, CA) - 913 Section 8 vouchers

ZIP code 91040 is situated in the affluent neighborhood of Pasadena, Los Angeles, California. This area is characterized by a diverse community of 20,821 residents, with 33.5% being renters. The median household income in this ZIP code is a substantial $98,256, reflecting the higher economic status of its inhabitants. Correspondingly, the median home value is impressively high at $929,379, indicating a robust housing market.

The rental economics in 91040 present an interesting dynamic. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,420, which is notably lower than the actual market rent, measured at $2,644 (ZORI). This gap suggests that landlords who are participating in the Section 8 program may experience some financial strain due to the discrepancy between the government-subsidized rates and the true cost of renting in the area.

Given these figures, it's clear that 91040 is not ideal for a hands-off Section 8 operator. The difference between the FMR and the ZORI indicates that landlords would need to be actively involved in managing their properties to ensure profitability. A hands-on approach, such as improving property amenities or increasing efficiency in operations, would be necessary to balance the lower rental rates provided by Section 8 against the higher market costs.

In conclusion, while the Pasadena area offers significant opportunities for real estate investment, those interested in Section 8 should be prepared for a more engaged role. The high median home values and incomes suggest a competitive market, making it essential for investors to focus on value-add strategies to succeed in this ZIP code.

Data Sources: FMR data from HUD (2027). 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.