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 economics of Section 8 in ZIP code 91610, located within the Los Angeles-Long Beach-Glendale County area, are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $2540 per month for fiscal year 2024. This figure is specifically tailored to reflect the rental market conditions within ZIP 91610.
To understand what a voucher actually pays, consider the components involved. The Section 8 program typically covers the difference between the SAFMR and the tenant's portion, which is usually 30% of their income. Additionally, there are utility allowances, which vary but can be estimated based on the size of the unit. For a two-bedroom apartment, the utility allowance might range from $200 to $300 per month, depending on the specifics of the case.
Let's walk through an example. If a tenant's monthly income is $2000, their contribution would be 30% of that, or $600. Subtracting this from the SAFMR of $2540 leaves $1940 as the amount paid by the housing authority. Adding a utility allowance of $250, the total reimbursement to the landlord would be $2190. This means that out of the $2540 SAFMR, the landlord receives $2190 directly from the housing authority plus the $600 from the tenant, totaling $2790.
However, it's important to note that the local market rent is currently unavailable for ZIP 91610. This makes it challenging to compare the SAFMR with the actual market rates, but generally, landlords should expect the SAFMR to be close to the average market rent for similar units in the area.
In conclusion, the typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 91610 is calculated by comparing the SAFMR to the local market rent. Given the SAFMR of $2540 and the total reimbursement of $2790, landlords would need to know the current local market rent to determine if they have a surplus or a shortfall. If the local market rent is below $2790, landlords will have a surplus; if it exceeds this amount, they will face a shortfall.
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.