Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,570 |
| 1 Bedroom | $2,870 |
| 2 Bedrooms | $3,540 |
| 3 Bedrooms | $4,480 |
| 4 Bedrooms | $5,020 |
| 5 Bedrooms | $5,823 |
| 6 Bedrooms | $6,522 |
| 7 Bedrooms | $7,044 |
| 8 Bedrooms | $7,396 |
U.S. Census Bureau data (2024)
ZIP code 91307, located in Los Angeles, CA, falls within the broader Oxnard-Thousand Oaks-Ventura, CA MSA. Comparatively, its rental market dynamics and property values reveal distinct characteristics that set it apart.
The Fair Market Rent (FMR) for ZIP 91307 is $3,810 for fiscal year 2024, while the market rent stands at $4,242. This indicates that the market rent slightly exceeds the FMR, suggesting a competitive rental environment where landlords might be able to charge above the subsidized rates.
The median home value in ZIP 91307 is $1,011,296, which is notably higher than many other ZIP codes within the Oxnard-Thousand Oaks-Ventura MSA. This suggests that 91307 leans towards being a premium sub-market within the metro, characterized by higher property values and likely more affluent residents.
Despite the high home values, the renter share in ZIP 91307 is 20.5%. This figure is indicative of a significant portion of renters, potentially attracted by the availability of units at or near the FMR. However, given the higher-than-average home values, this ZIP code does not fit the typical profile of a Section 8 sweet spot, which usually has lower home values and a higher renter share.
To determine if 91307 is a value pocket or a mid-tier neighborhood within its metro, consider the following:
If the FMR and market rent are consistently higher across the Oxnard-Thousand Oaks-Ventura MSA, then 91307's relatively lower FMR compared to its market rent could still position it as a mid-tier neighborhood.
However, if most ZIP codes within the MSA have lower home values and market rents, then 91307's high home value and slightly elevated market rent suggest it is a premium sub-market.
The key inference here is that 91307 is likely a premium sub-market within the Oxnard-Thousand Oaks-Ventura MSA, given its high home values and slightly above FMR market rents. The 20.5% renter share does not indicate a typical Section 8 sweet spot but rather a diverse housing market with both homeowners and renters.
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.