Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,510 |
| 1 Bedroom | $2,800 |
| 2 Bedrooms | $3,460 |
| 3 Bedrooms | $4,390 |
| 4 Bedrooms | $4,910 |
| 5 Bedrooms | $5,696 |
| 6 Bedrooms | $6,380 |
| 7 Bedrooms | $6,890 |
| 8 Bedrooms | $7,235 |
U.S. Census Bureau data (2024)
The ZIP code 91324 in Los Angeles, CA, is decidedly renter-heavy, with 53.3% of its population renting their homes. This high percentage indicates a strong demand for rental properties, including those that cater to Section 8 tenants. Given the total population of 30,699, it's reasonable to conclude that there is a significant number of individuals seeking housing through government assistance programs.
The median household income in ZIP 91324 is $99,610, which provides a benchmark for understanding the economic context of the area. The market rent stands at $2,814 per month, representing approximately 34% of the median household income when annualized. This figure suggests that typical rents consume a substantial portion of the average resident's income, potentially making subsidized housing options like Section 8 vouchers attractive to many.
Comparing the market rent to the Fair Market Rent (FMR) set at $3,000 for FY 2024, we see that the actual rent is slightly below the FMR. This discrepancy can be advantageous for landlords who accept Section 8 vouchers, as it means they are likely to receive the full FMR payment from the government, thus ensuring a stable and competitive rental rate.
A landlord in ZIP 91324 should expect a tenant profile that includes a significant number of low-income families, elderly individuals, and disabled persons who rely on government subsidies to afford housing. These tenants will have a monthly income that is typically less than 50% of the area median income, necessitating the use of vouchers to cover the majority of their rent payments. While these tenants require a level of patience and adherence to federal guidelines, they also offer the security of a reliable and consistent source of rental income through the Section 8 program.
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.