Section 8 Fair Market Rent (FMR) for ZIP 91733 - 2027

Investment Score for ZIP 91733

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,810
1 Bedroom	$2,020
2 Bedrooms	$2,490
3 Bedrooms	$3,160
4 Bedrooms	$3,540
5 Bedrooms	$4,106
6 Bedrooms	$4,599
7 Bedrooms	$4,967
8 Bedrooms	$5,215

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,490	$667,513	0.37%	F
3BR	$3,160	$737,397	0.43%	F
4BR	$3,540	$810,082	0.44%	F
5BR	$4,106	$971,673	0.42%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 91733 (South El Monte, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 91733 is set by HUD for 2026, with the following rates: - 0BR: $1530 - 1BR: $1720 - 2BR: $2140 (which is 37.6% of the median household income) - 3BR: $2710 - 4BR: $3020 These FMRs represent the maximum rent that a Section 8 voucher holder can pay. However, the actual rents in South El Monte are significantly higher, particularly for 2-bedroom units. According to Zillow, the median price for a 2BR unit is $675,570, which translates to a monthly rental cost of approximately $2,815 based on typical mortgage payments and property taxes. This means that the actual rent for a 2BR unit is nearly 26.3 times the FMR, making it extremely challenging for voucher holders to find suitable housing. The constraints for voucher holders in this area are severe. For example, a 2BR unit priced at $2,815 would exceed the $2140 FMR limit by $675 per month. This gap is substantial and could force voucher holders to either seek less desirable housing options or look outside the ZIP code for more affordable alternatives. #### Affordability & Renter Profile ZIP code 91733 has a population of 41,255, with 58.3% of residents being renters. The occupancy rate stands at 96.8%, indicating a highly occupied market with limited vacancies. Given the high percentage of renters and the occupancy rate, it suggests that the rental market is tight, with little supply to meet demand. The median household income in the area is $68,278, which places many residents in a position where they must rely on assistance programs like Section 8 vouchers to afford housing. With 2BR units costing $2,815 per month, these rents represent over 40% of the median household income, making them unaffordable for most residents without subsidies. #### Investor Angle From an investor perspective, the ZIP code 91733 presents a challenging environment for cash flow positive investments at the FMR levels. The FMR for a 2BR unit is $2140, while the actual median rental price is $2,815. This significant difference means that landlords who accept Section 8 vouchers will likely be operating at a loss unless they can find other ways to offset the lower rent. The investment grade for properties in this ZIP code is low when considering only the FMR rates. Investors should carefully evaluate their costs, including mortgage payments, property taxes, insurance, maintenance, and management fees, before deciding whether to accept Section 8 vouchers. The high actual rental prices suggest that there is a strong demand for rental properties, but the affordability issue for voucher holders remains a critical factor. #### Specific Actionable Insights 1. **Targeted Rental Pricing**: Investors should consider setting rental prices slightly below the actual market rate but above the FMR to attract a mix of voucher holders and other tenants. For instance, pricing a 2BR unit at $2,600 could make it more attractive to voucher holders while still generating a profit. 2. **Government Programs**: Engage with local government programs that provide additional incentives for landlords who accept Section 8 vouchers. These programs might include tax breaks, grants, or subsidies that can help offset the financial burden of accepting vouchers. 3. **Property Upgrades**: Focus on property upgrades that can justify higher rents. Improvements such as energy-efficient appliances, modern kitchen and bathroom fixtures, and better landscaping can increase the value proposition for both voucher holders and other tenants. #### Bottom Line Given the high actual rental prices compared to the FMR, the recommendation for Section 8-focused investors in ZIP code 91733 is to **Skip** this market. Accepting vouchers at the FMR rates would likely result in financial losses due to the significant gap between the FMR and actual market rents. Instead, investors should look for areas where the FMR is closer to the actual rental prices or explore alternative investment strategies that do not solely depend on Section 8 vouchers.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.