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 |
To classify ZIP code 91322 in Unknown, CA, we need to analyze the given data points on two key axes: yield and stability. The Fair Market Rent (FMR) for the area is set at $2540 for the fiscal year 2024, which provides insight into the potential rental income landlords can expect. However, the lack of specific market rent and home value data makes it challenging to fully assess the yield potential compared to typical market conditions.
On the stability axis, the data is incomplete with no percentage of renters, no average days on market (DOM), and no median income figure provided. This absence of data suggests that while there might be a good yield based on the FMR, the stability of the market cannot be accurately determined without additional information.
The FMR of $2540 indicates a relatively high potential for rental income, assuming that the actual market rents align closely with this benchmark. However, without knowing the typical market rent and home values, it's difficult to gauge if this represents a high-yield scenario where rental prices significantly exceed the cost of property ownership, or if it's a more balanced situation.
The missing data on renters, DOM, and income levels prevents us from making a definitive statement about the stability of the market. A higher percentage of renters typically signals greater demand but also potentially less stability due to the variability in tenant behavior and the economy's impact on rental markets. Shorter DOM figures suggest strong demand and quick turnover, which can be positive for cash flow but also indicate a less stable market if driven by speculative activity. Median income data would help understand the financial health of the local population and their ability to sustain rent payments over time.
In conclusion, based on the available data, ZIP 91322 shows promise for high yield due to the FMR figure. However, the classification between a flip-style market, a steady-cashflow zone, or something in between remains indeterminate due to the lack of comprehensive stability indicators. Landlords and small-portfolio investors should seek additional market-specific data before making investment decisions 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.