Section 8 Fair Market Rent (FMR) for ZIP 91302 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 91302

• 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

Calabasas, CA, represented by ZIP code 91302, is a affluent suburb located in Los Angeles County. Known for its high-end residential communities, the area attracts wealthy individuals and families who seek luxury living amidst a serene environment. This analysis provides insights into the rental market dynamics of Calabasas, highlighting key metrics that are crucial for landlords and small-portfolio investors.

• The Fair Market Rent (FMR) for ZIP 91302 in fiscal year 2024 is set at $3820.
• The actual market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $4,667, reflecting the premium that tenants are willing to pay for housing in this exclusive locale.
• The median home value in Calabasas is a substantial $1,958,273, underscoring the wealth of the area's residents.
• Renters make up 29.4% of the total population, indicating a significant portion of the community is still interested in renting rather than purchasing property.
• The days on market (DOM) for rental listings in this area average 44 days, suggesting a relatively quick turnover rate for rental properties.
• The median household income in Calabasas is a robust $185,636, providing strong financial backing for the local rental market.

The rental market in Calabasas presents a favorable scenario for investors. With a higher market rent compared to the FMR and a median home value indicative of affluence, the area supports premium pricing. The 29.4% renter share signals ongoing demand for rental properties, while the 44-day DOM suggests that units are occupied promptly once listed. The high median income further bolsters the likelihood of timely rent payments and overall stability in the rental market. In summary, Calabasas offers a lucrative investment opportunity for those looking to capitalize on the strong economic foundation and the affluent demographic of the area.

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.