Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,720 |
| 1 Bedroom | $3,030 |
| 2 Bedrooms | $3,740 |
| 3 Bedrooms | $4,750 |
| 4 Bedrooms | $5,320 |
| 5 Bedrooms | $6,171 |
| 6 Bedrooms | $6,912 |
| 7 Bedrooms | $7,465 |
| 8 Bedrooms | $7,838 |
U.S. Census Bureau data (2024)
The ZIP code 91046 falls within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $2120. This figure represents the median rental cost for a two-bedroom apartment in the area, which can be used by landlords and investors to gauge the financial viability of their properties.
When compared to typical ZIP codes within the same HUD Metro FMR Area, 91046 stands out due to its specific characteristics. The FMR of $2120 suggests that it is likely a mid-tier neighborhood within the larger metropolitan area. While the exact market rent and home values are not available for 91046, the 83.5% renter share indicates a strong demand for rental properties. This high percentage of renters often points towards areas where housing costs might be relatively higher, making homeownership less accessible.
In the context of Section 8 real estate analysis, the high renter share combined with the specific FMR can suggest that 91046 could be a sweet spot for landlords who participate in the Section 8 program. Landlords can benefit from a stable tenant pool willing to pay a significant portion of their income towards rent, ensuring steady cash flow. Additionally, the FMR serves as a benchmark for setting rental prices that align with government subsidies, thereby attracting tenants who qualify for assistance.
While we cannot definitively classify 91046 as a value pocket or a premium sub-market without additional data on market rents and home values, the combination of a mid-range FMR and a high renter share makes it an attractive option for landlords looking to capitalize on the demand for affordable rentals. Participation in the Section 8 program can provide a reliable source of income, especially given the strong rental market indicated by the high renter share.
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.