Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,050 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,830 |
| 3 Bedrooms | $3,590 |
| 4 Bedrooms | $4,020 |
| 5 Bedrooms | $4,663 |
| 6 Bedrooms | $5,223 |
| 7 Bedrooms | $5,641 |
| 8 Bedrooms | $5,923 |
U.S. Census Bureau data (2024)
2160 is the Fair Market Rent (FMR) for ZIP code 91754 in Monterey Park, CA, for fiscal year 2024, indicating the maximum amount Section 8 tenants can be charged per month for a standard unit. In contrast, the market rent, known as ZORI, stands at 2420, suggesting a slight premium landlords might charge over the FMR. The median home value in the area is 942104, reflecting a relatively stable housing market where property investments can yield substantial equity appreciation over time. With 45.8% of residents being renters, there's a significant demand for rental properties, making it a viable market for small-portfolio investors. The median income of 86331 in the region implies that many households may rely on assistance programs like Section 8 to afford housing. Notably, the day DOM (Days On Market) figure is N/A, which could mean that properties are either selling quickly or that this data is not consistently available, highlighting the competitive nature of the local real estate scene. The price-cut share of 0.2% further underscores that sellers rarely need to reduce their asking prices, pointing to a robust market where values are generally well-supported. Given these metrics, the Section 8 program remains a solid option for landlords in Monterey Park, offering consistent, government-backed rental income without the risk of prolonged vacancies or frequent price adjustments.
Data Sources: FMR data from HUD (2027). 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.