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 91802 in Unknown, CA presents several challenges for landlords considering Section 8 investments. First, the tenant turnover rate can be unpredictable due to the lack of available market rent data. The Fair Market Rent (FMR) for the area, as of FY 2024, is set at $2540, which serves as a benchmark but does not account for actual market conditions that could lead to higher turnover if tenants find better deals elsewhere.
Vacancy exposure is another significant risk factor. With no data on the average days on market (DOM), it's unclear how quickly properties in this area can be rented out, even with Section 8 vouchers. This uncertainty can lead to extended periods of vacancy, impacting cash flow and requiring landlords to cover mortgage payments and other expenses without rental income.
Deferred maintenance is also a concern. Without specific figures on the typical home value and median income in ZIP 91802, it's difficult to gauge the financial health of potential tenants and their ability to maintain the property. This could result in higher repair costs and lower property values over time if not managed properly.
However, these risks must be weighed against the high concentration of renters in the area. While the exact percentage of the renter share is not provided, high renter density generally indicates strong demand for rental housing, including Section 8 vouchers. This demand can help stabilize occupancy rates and reduce the likelihood of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.