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 rent math in ZIP code 91221 does not provide sufficient clarity due to missing market rent data. The Fair Market Rent (FMR) set at $2540 for fiscal year 2024 is the benchmark figure we have, but without knowing the actual market rent, it's challenging to determine if the rent covers operational costs and yields a profit. This gap in information is critical for making informed decisions on rental pricing.
Regarding the affordability of acquisitions, the data is incomplete. The median home value is listed as N/A, which means there is no reference point for assessing the typical cost of property in this area. Additionally, the days on market (DOM) and the percentage of homes that require price reductions before selling are also unavailable. These metrics are essential for understanding how competitive the market is and whether properties are generally overpriced, underpriced, or just right.
Tenant demand in ZIP 91221 is also unclear given the lack of specific population and renter share percentages. Without these figures, it's impossible to gauge the number of potential tenants and their likelihood of being renters rather than buyers. A high renter share typically indicates strong demand for rental properties, but the absence of data here leaves us without a clear picture of the local rental market dynamics.
In conclusion, while the Fair Market Rent provides a guideline at $2540, the incomplete data on market rent, median home values, days on market, price-cut shares, population, and renter share make it difficult to assess the viability of investing in ZIP 91221. Landlords and small-portfolio investors should seek additional local market analysis to fill these gaps and make informed decisions. The current data does not support a definitive recommendation for investment in this area.
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.