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 situation in ZIP code 91778, located in Unknown, California, presents a unique challenge for both renters and landlords. The median income for households in this area is not available, which complicates assessing the overall financial health and spending capacity of residents. However, the market rate rent is also listed as N/A, indicating a lack of comprehensive data on rental prices.
Despite these unknowns, we can look at the Housing Choice Voucher Program's Fair Market Rent (FMR) standard for ZIP 91778 in fiscal year 2024, which is set at $2540. This figure represents the maximum amount that a voucher holder can pay for rent and utilities combined. If the actual market rate rent were higher than this, it would suggest an affordability gap for those relying on vouchers, making it difficult for them to find suitable housing.
The percentage of renters and the total population in ZIP 91778 are also not specified, but these missing details highlight the importance of understanding local rental dynamics. In areas where a significant portion of the population rents, especially if they depend on vouchers, landlords face direct competition from properties willing to accept government assistance. This competition can influence occupancy rates and rental pricing strategies.
Given the limited data, landlords in ZIP 91778 should consider the FMR of $2540 as a benchmark for accepting voucher payments. If the market rate is indeed higher, focusing on cash-paying tenants might seem attractive, but it risks overlooking a substantial segment of potential renters who rely on financial assistance. The takeaway for landlords is to balance their rental offerings between cash-paying and voucher-friendly units, depending on the local demand and their own investment goals. This approach ensures a steady stream of tenants while also potentially benefiting from the stability and support that comes with working with the voucher program.
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.