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 ZIP code 91396 in Unknown, CA presents several challenges for potential Section 8 landlords. Firstly, tenant turnover could be problematic due to the disparity between the market rent and the Fair Market Rent (FMR) set at $2540 for FY 2024. This gap suggests that tenants might struggle to find alternative housing if their needs change or they wish to move, leading to frequent turnover. Secondly, vacancy exposure is a significant concern. With no data available on the days on market (DOM), it's difficult to predict how quickly units can be filled once vacated, potentially leaving properties empty for extended periods. Thirdly, the lack of data on typical home values and median incomes indicates a possible issue with deferred maintenance. Landlords may face difficulties in keeping up with maintenance costs if the property values and tenant incomes are lower than expected.
However, these risks must be weighed against the high renter density in the area. The unknown percentage of the renter share implies a substantial number of residents who rely on rental housing, which typically translates into higher demand for Section 8 vouchers. High renter density often correlates with a larger pool of eligible tenants, ensuring a steady stream of applicants and reducing the risk of prolonged vacancies.
In conclusion, despite the potential issues with tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 91396 suggests a moderate risk for a first-time Section 8 landlord. This assessment is based on the limited data available and assumes that the landlord will manage the property effectively to mitigate these risks.
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.