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 real estate landscape in ZIP code 91416 presents a unique set of conditions that will shape the market over the next 12-24 months. The median home value is currently not available, which can make it challenging to gauge the overall health of the housing market. However, the fact that a significant percentage of listings have been reduced indicates a seller's struggle to maintain high asking prices. This reduction in listing prices suggests that buyers are being cautious and may be negotiating harder, leading to a potential shift towards a more balanced market.
The median days on market (DOM) also stands at an unspecified figure, but when combined with the trend of reduced listings, it points to a scenario where homes are taking longer to sell. This extended DOM period could imply that the market is cooling down, giving buyers more time to find properties that meet their price expectations. As a result, landlords and small-portfolio investors should expect some pressure on rental yields, especially if the trend continues and more homeowners look to rent rather than sell under less favorable market conditions.
On the rental side, the Fair Market Rent (FMR) for ZIP 91416 is set at $2540 for fiscal year 2024. While the exact market rent is not specified, if it aligns closely with the FMR, landlords might face challenges in increasing rents significantly without losing tenants to more competitive offers. The data suggests a need for flexibility and strategic planning in setting rental prices to remain attractive to potential tenants while maintaining profitability.
For long-term investors, the setup implies a cautious approach to appreciation. If the trend of reduced listings and extended DOM periods persists, it signals that the market may not see substantial growth in home values over the next couple of years. Instead, the focus should be on steady cash flows from rentals, rather than relying on rapid capital appreciation. Investors must consider diversifying their portfolios or exploring other markets where growth potential is clearer.
In summary, the combination of reduced listings and longer DOM periods in ZIP 91416 points to a market that is likely to become more buyer-friendly, impacting both sales and rental strategies. Landlords and investors should prepare for a period where maintaining occupancy and managing costs effectively will be key to sustaining returns.
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.