Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,160 |
| 1 Bedroom | $3,530 |
| 2 Bedrooms | $4,350 |
| 3 Bedrooms | $5,520 |
| 4 Bedrooms | $6,180 |
| 5 Bedrooms | $7,169 |
| 6 Bedrooms | $8,029 |
| 7 Bedrooms | $8,671 |
| 8 Bedrooms | $9,105 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $4,350 | $585,194 | 0.74% | D |
| 3BR | $5,520 | $989,721 | 0.56% | F |
| 4BR | $6,180 | $1,173,615 | 0.53% | F |
| 5BR | $7,169 | $1,560,633 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP code 91789 is part of Walnut, California, a neighborhood known for its affluent and stable community. With a total population of 40,298, it is predominantly owner-occupied, with only 17.9% of residents being renters. The area boasts a high median income of $125,720, reflecting the economic prosperity of its inhabitants. Additionally, the median home value stands at an impressive $1,156,336, indicating the significant investment value in the local real estate market.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 91789 is set at $3,820 for fiscal year 2024, slightly above the market rent of $3,782 as indicated by the Zillow Observed Rent Index (ZORI). This suggests that the rental market is closely aligned with government standards, providing a reliable benchmark for landlords and investors.
Given these conditions, ZIP 91789 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of the neighborhood and alignment between FMR and market rents ensure consistent cash flow without the need for active management. On the other hand, for value-add investors looking to improve property values, the strong economic indicators and high median home value offer a solid foundation to enhance returns through strategic renovations and upgrades. Both types of investors can expect favorable outcomes due to the robust economic environment and the relatively low percentage of renters, which implies a steady demand for quality housing solutions.
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.