Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,370 |
| 1 Bedroom | $2,640 |
| 2 Bedrooms | $3,260 |
| 3 Bedrooms | $4,140 |
| 4 Bedrooms | $4,630 |
| 5 Bedrooms | $5,371 |
| 6 Bedrooms | $6,016 |
| 7 Bedrooms | $6,497 |
| 8 Bedrooms | $6,822 |
U.S. Census Bureau data (2024)
The ZIP code 91204, located in Glendale, California, stands out in Los Angeles County due to its unique mix of demographics and housing values. With a population of 17,857 residents, it boasts an unusually high rental rate of 93.3%, indicating a strong preference for leasing over ownership. Despite this, the median home value in the area is impressively high at $779,442, reflecting the overall expensive nature of the real estate market in this part of Glendale. The median income of $74,144 suggests that residents have the financial capacity to support such high property values.
Moving into the specifics of Section 8 economics, the Fair Market Rent (FMR) for ZIP 91204 for fiscal year 2024 is set at $2,750. This figure is notably higher than the market rent, which is measured by the Zillow Rent Index (ZORI) at $2,594. This discrepancy means that landlords participating in the Section 8 program can expect to receive slightly above-market rents, providing a stable income source that is government-guaranteed.
The data signature for ZIP 91204 indicates a relatively stable environment. High rental rates suggest a consistent demand for apartments and houses for lease, while the FMR being above the market rent ensures that landlords will be fairly compensated. The combination of these factors points towards a market that is unlikely to undergo significant transitional changes in the near future, making it a reliable investment choice for those interested in Section 8 properties.
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.