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 | $2,020 |
| 1 Bedroom | $2,250 |
| 2 Bedrooms | $2,780 |
| 3 Bedrooms | $3,530 |
| 4 Bedrooms | $3,950 |
| 5 Bedrooms | $4,582 |
| 6 Bedrooms | $5,132 |
| 7 Bedrooms | $5,543 |
| 8 Bedrooms | $5,820 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,780 | $849,419 | 0.33% | F |
| 3BR | $3,530 | $975,948 | 0.36% | F |
| 4BR | $3,950 | $1,072,214 | 0.37% | F |
| 5BR | $4,582 | $1,245,011 | 0.37% | F |
U.S. Census Bureau data (2024)
ZIP code 91803, located in Alhambra, CA, is part of the larger Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. When comparing its Fair Market Rent (FMR) of $2,250, market rent of $2,384, median home value of $960,746, and 51.6% renter share to typical ZIP codes within this metro area, several key insights emerge.
The FMR for ZIP 91803 is slightly below the average for the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area, which typically ranges higher. This indicates that it may be considered a value pocket for Section 8 tenants seeking affordable housing options. However, the market rent of $2,384 suggests that the private rental market is only marginally above the FMR, indicating a competitive environment where rents are closely aligned with what is deemed fair by HUD.
The median home value of $960,746 places ZIP 91803 firmly within the upper echelons of the metro area's housing market. This high valuation contrasts with the relatively lower FMR, suggesting a diverse housing market where both renters and homeowners coexist, albeit at different price points. The high renter share of 51.6% further supports this diversity, indicating a significant portion of the population prefers renting over owning.
In summary, ZIP 91803 can be characterized as a premium sub-market within the broader Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area, due to its high median home value. However, its FMR and market rent figures indicate it also serves as a value pocket for subsidized housing. The substantial renter share, combined with below-metro average home values relative to other metrics, highlights an opportunity for landlords and small-portfolio investors interested in the Section 8 program.
Investors should note the following:
These figures suggest a balanced investment opportunity, offering both premium and value pockets within the same neighborhood, catering to a wide range of tenants including those eligible for Section 8 subsidies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.