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 91747 in Unknown, CA, stands as a market in motion, characterized by specific dynamics that reveal the interplay between supply and demand. The Fair Market Rent (FMR) for the area is set at $2540 for fiscal year 2024, providing a benchmark for rental pricing. However, the absence of current market rent data suggests either a lack of recent transactions or a market that is less active compared to others.
The missing percentage of price-cut share and days on market (DOM) indicate an incomplete picture of the sales market. This could imply a stable market where neither significant discounts nor extended listing times are common, or it might simply reflect limited data availability. Regardless, the median home value being listed as N/A points towards a potential scarcity of home sales data, which can be indicative of a market where homeownership is less prevalent or where homes are not frequently changing hands.
The N/A% renter share is a critical piece of information that, when considered alongside the established FMR, suggests a region with considerable long-term housing pressure. Typically, a higher renter share indicates a greater reliance on rental properties, which can put sustained upward pressure on rents. In ZIP 91747, the unknown percentage of renters implies that there is a significant portion of the population who may be unable to purchase homes, leading to a steady demand for rental units. This dynamic supports the notion that the rental market is under consistent pressure, potentially driving rents closer to or even above the FMR over time.
In summary, ZIP 91747 appears to be a market where demand for rental properties is strong, possibly due to the high cost of homeownership or other factors that make renting a preferred option. The lack of specific data on market rent, price-cut share, DOM, and median home value suggests a market that is somewhat insulated from frequent fluctuations in property values and sales activity, but the established FMR and the likely high renter share point to an environment where rental demand is a key driver of market conditions.
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.