Section 8 Fair Market Rent (FMR) for ZIP 91344 - 2027

Investment Score for ZIP 91344

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,580
1 Bedroom	$2,880
2 Bedrooms	$3,550
3 Bedrooms	$4,500
4 Bedrooms	$5,040
5 Bedrooms	$5,846
6 Bedrooms	$6,548
7 Bedrooms	$7,072
8 Bedrooms	$7,426

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$3,550	$668,093	0.53%	F
3BR	$4,500	$935,644	0.48%	F
4BR	$5,040	$1,070,630	0.47%	F
5BR	$5,846	$1,330,314	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 91344 (Los Angeles, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 91344 in 2026 is set at $3140 for a two-bedroom unit, which represents 31.6% of the median household income in the area. However, the actual median rent for a two-bedroom unit on Zillow is $673,553, indicating a price-to-FMR ratio of 17.9x. This means that the actual rental prices are significantly higher than the FMR, creating a challenging environment for Section 8 voucher holders. The FMR is designed to ensure affordable housing, but in this case, it falls far short of covering the actual market rates. For instance, a three-bedroom unit has an FMR of $3980, while the market rate is likely much higher given the 17.9x ratio. Consequently, voucher holders face strict constraints and may struggle to find units within their budget. #### Affordability & Renter Profile ZIP code 91344 has a median household income of $119,345, which suggests a relatively affluent population. With 26.6% of residents being renters, the market is not heavily dominated by rental demand. However, the occupancy rate of 96.4% indicates a tight rental market where most available units are quickly occupied. Given the high median rent and the low percentage of renters relative to the overall population, the typical renter in this area is likely to be financially stable and able to afford higher rents. This makes it difficult for lower-income individuals, including those relying on Section 8 vouchers, to secure housing. #### Investor Angle From an investor perspective, the FMR for a two-bedroom unit is $3140, which is considerably below the actual median rent of $673,553. This implies that properties rented at FMR levels would likely not generate positive cash flow, especially when considering the high property values and associated costs such as taxes, maintenance, and insurance. The investment grade for this ZIP code would be low due to the mismatch between FMR and market rents. Investors looking to participate in the Section 8 program would need to carefully evaluate the potential returns and risks involved, given the limited number of units that can be rented at FMR levels. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should consider focusing on smaller units like one-bedroom apartments. The FMR for a one-bedroom unit is $2520, which is still far below the likely market rent. While this may not provide substantial cash flow, it could offer a better chance of finding tenants willing to pay the FMR compared to larger units. 2. **Seek Out-of-Market Opportunities**: Investors might want to look for opportunities outside of ZIP code 91344 where the price-to-FMR ratio is lower. This could mean targeting areas with similar demographics but lower property values, ensuring a more balanced investment portfolio. 3. **Consider Mixed-Income Developments**: To balance the financial viability of the investment, developers could explore mixed-income developments where a portion of the units are rented at market rates and others are reserved for Section 8 voucher holders. This approach can help offset the lower rents received from voucher holders with higher rents from market-rate tenants. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 91344 is to **skip** this market. The high price-to-FMR ratio and tight rental market make it challenging to find properties that can be rented at FMR levels without significant financial losses. Instead, investors should seek out areas with more favorable conditions for Section 8 rentals, where they can achieve positive cash flow and better alignment with the program's goals.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.