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 | $2,010 |
| 1 Bedroom | $2,240 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,510 |
| 4 Bedrooms | $3,930 |
| 5 Bedrooms | $4,559 |
| 6 Bedrooms | $5,106 |
| 7 Bedrooms | $5,514 |
| 8 Bedrooms | $5,790 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,240 | $272,214 | 0.82% | C |
| 2BR | $2,770 | $369,905 | 0.75% | D |
| 3BR | $3,510 | $454,341 | 0.77% | D |
U.S. Census Bureau data (2024)
ZIP code 93532, located in Lake Hughes, CA, falls within the broader Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. To contextualize its position within this large metro area, let's examine the key figures:
The Fair Market Rent (FMR) for ZIP 93532 in fiscal year 2024 is set at $2190. This figure represents the upper limit for housing costs that are considered affordable for low-income families receiving federal assistance. In comparison, the market rent in 93532 is $1,783, which is lower than the FMR. This suggests that there is a potential for rental properties in this ZIP to be more affordable for those eligible for Section 8 benefits.
The median home value in 93532 stands at $426,080. While this might seem high, it's important to note that home values can vary significantly across different ZIP codes within the same metro area. The 17.8% renter share indicates that nearly one in five residents are renters, a slightly higher proportion than what you might find in other areas with similar home values.
Based on these figures, ZIP 93532 appears to be a mid-tier neighborhood within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. It offers rental opportunities that are somewhat below the FMR, making it a potentially attractive option for tenants seeking federal assistance. However, the higher home values suggest that it is not a value pocket but rather a middle-ground where both homeownership and affordable rentals coexist.
The divergence between the high renter share and the relatively lower home values compared to some other ZIP codes in the area could indicate a sweet spot for Section 8 landlords and investors. This combination suggests a demand for rental properties that is not fully met by the existing supply, particularly among those who qualify for federal housing assistance programs.
In summary, ZIP 93532 presents a balanced opportunity within its metro area, offering both rental properties that are under the FMR and a higher-than-average renter share, which could be beneficial for landlords and small-portfolio investors looking to cater to tenants with Section 8 vouchers.
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.