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 analysis of ZIP code 91337 reveals specific characteristics that can help classify it along the axes of yield and stability.
The Fair Market Rent (FMR) for ZIP 91337 as of the fiscal year 2024 is $2,540. This figure is crucial for understanding potential rental yields in the area. However, the data provided does not specify the market rent or median home value, which would typically be compared against the FMR to gauge the overall profitability of the rental market.
To determine the stability of the market, we need to consider several factors such as the percentage of renters, days on market (DOM), and median income levels. Unfortunately, the information available does not provide these specific metrics for ZIP 91337.
Without the comparative figures for market rent and median home value, it's challenging to definitively classify the yield of the ZIP 91337 real estate market. If the market rent is significantly higher than the FMR, it suggests a potentially high-yield market. Conversely, if the market rent is close to or lower than the FMR, the yield might be moderate or low.
The lack of data on renters' percentage and DOM makes it difficult to assess the stability of the market. A higher percentage of renters generally indicates greater demand for rental properties, while a shorter DOM suggests quicker property turnover, both pointing towards a stable market. Median income levels also play a key role; higher incomes can support higher rents and reduce the risk of default.
In summary, ZIP 91337 appears to offer a promising rental yield based on the FMR figure. However, without additional data on market rent, median home values, the percentage of renters, DOM, and median income, a precise classification between high-yield/low-stability and steady-cashflow zones cannot be made. Further investigation into these missing figures would clarify whether the market leans towards quick flips or long-term, stable cash flow opportunities.
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.