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 Fair Market Rent (FMR) for ZIP code 91413 in fiscal year 2024 is set at $2540. This figure represents the payment standard used by the Section 8 Housing Choice Voucher program to determine the maximum amount they will pay toward your tenant's rent. It does not represent the rent you can charge your tenants, but rather the ceiling on what the voucher program will cover.
In ZIP 91413, the local median rent is currently listed as N/A, which makes direct comparison difficult. However, the FMR serves as a guideline for what the government considers a reasonable rent for the area. If the local median rent is below $2540, landlords may find that the Section 8 program offers a competitive rate that ensures steady income.
The percentage of renters in the area who could be eligible for the Section 8 program is N/A%. This indicates the potential demand for affordable housing in your ZIP code. A higher percentage suggests more interest from potential tenants using vouchers, which can help fill vacancies quickly.
The average home value in ZIP 91413 is N/A, which gives an indication of the acquisition cost for properties in the area. This figure is important when considering the overall investment and long-term profitability of a Section 8 rental property.
Before committing to a Section 8 rental, it is crucial to verify that your property meets the minimum housing quality standards known as the Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary for the tenant. Failure to meet these standards can result in the termination of your participation in the program.
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.