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 |
ZIP code 91114 falls within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for 91114 is set at $2540 for fiscal year 2024. This figure represents the maximum amount that a household receiving Section 8 assistance can pay for rent in this area.
To contextualize the $2540 FMR, let's compare it to typical ZIP codes within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. While specific market rent and home value data for 91114 are not available, we can infer its position within the broader metro based on the given FMR. In general, the FMRs across the metro vary significantly, reflecting the diverse housing markets within the region.
The absence of market rent and home value data for 91114 limits our ability to definitively classify it as either a value pocket, mid-tier neighborhood, or premium sub-market. However, if we assume that the FMR is indicative of the overall rental market conditions, then $2540 suggests that 91114 could be positioned as a mid-tier neighborhood. This assumption is grounded in the fact that FMRs are typically lower than market rents but higher than the minimum rent thresholds set by HUD.
A notable piece of missing data is the renter share percentage for 91114. High renter shares with below-average home values can indicate a strong presence of Section 8 households, which landlords might find attractive due to the steady income stream. Given that the renter share is listed as N/A, we cannot confirm if 91114 fits into this pattern. Therefore, while the $2540 FMR aligns with a mid-tier neighborhood, without additional market data, we cannot fully determine if 91114 is a sweet spot for Section 8 investors.
Landlords and small-portfolio investors should consider the $2540 FMR as a starting point for understanding the rental market dynamics in 91114. To make informed decisions, they will need to research further into the local real estate trends and possibly consult local realtors or property management companies for more detailed insights into market rents and home values.
Investors looking for value pockets within the metro should also explore other ZIP codes with lower FMRs, while those seeking premium sub-markets might focus on areas with higher FMRs and market rents. For 91114, the $2540 FMR places it squarely in the middle, making it a viable option for those who want a balance between affordability and market demand.
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.