Section 8 Fair Market Rent (FMR) for ZIP 91352 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,880
1 Bedroom	$2,100
2 Bedrooms	$2,590
3 Bedrooms	$3,290
4 Bedrooms	$3,680
5 Bedrooms	$4,269
6 Bedrooms	$4,781
7 Bedrooms	$5,163
8 Bedrooms	$5,421

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 91352 (Los Angeles, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 91352 is set by HUD for 2026 as follows: - 0BR: $1650 - 1BR: $1840 - 2BR: $2300 - 3BR: $2920 - 4BR: $3250 However, the actual rental market for two-bedroom units in 91352 is significantly higher, with Zillow reporting a median price of $705,174. This translates to a price-to-FMR ratio of 25.5x, indicating that the actual market rent for two-bedroom units is approximately $58,660 annually ($705,174 / 25.5). The disparity between the FMR and the actual market rent is substantial, making it challenging for Section 8 voucher holders to find suitable housing within their budget constraints. For instance, a 2BR unit priced at $2300 per month would only be 35.3% of the median household income of $78,239, but this is far below the actual market rate. #### Affordability & Renter Profile ZIP code 91352 has a population of 46,899, with nearly half (49.8%) being renters. The occupancy rate stands at 95.0%, suggesting a tight rental market where demand consistently outstrips supply. Given the high median household income of $78,239, the typical renter in this area likely has a stable job and can afford higher rents. However, the significant gap between the FMR and the actual market rent means that low-income households, including those relying on Section 8 vouchers, face considerable challenges in finding affordable housing. #### Investor Angle From an investor perspective, the ZIP code 91352 presents a mixed picture. While the high median home value suggests strong appreciation potential, the cash flow at FMR levels is likely negative. For example, a 2BR unit renting at the FMR of $2300 per month would generate annual income of $27,600, which is far less than the median home value of $705,174. This implies that investors focusing on Section 8 vouchers would need to consider other factors such as property appreciation and long-term capital gains rather than immediate cash flow. The investment grade for this ZIP code is moderate to low for Section 8-focused investors due to the high price-to-FMR ratio. Investors might find better opportunities in areas with lower ratios where they can achieve positive cash flow while still benefiting from the strong demand for rentals. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should focus on smaller units like 0BR or 1BR apartments. These units have FMRs of $1650 and $1840 respectively, which are closer to the actual market rates compared to larger units. For instance, a 1BR unit renting at $1840 per month would generate annual income of $22,080, which is more feasible for cash flow purposes. 2. **Consider Property Appreciation**: Although cash flow might be negative, the high median home value indicates strong potential for property appreciation. Investors could consider purchasing properties with the intention of holding them for several years to benefit from rising property values. For example, a property purchased today at $705,174 could appreciate significantly over time, providing substantial returns even if the initial cash flow is negative. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 91352 is to **skip** this market. The high price-to-FMR ratio makes it difficult to achieve positive cash flow, and the tight rental market means that there is limited availability of units that fall within the FMR range. Instead, investors should look for areas with lower ratios and more affordable rental markets to ensure both positive cash flow and alignment with the needs of Section 8 voucher holders.

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.