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 | $1,610 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,220 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,220 | $320,970 | 0.69% | D |
| 3BR | $2,820 | $388,363 | 0.73% | D |
| 4BR | $3,150 | $414,330 | 0.76% | D |
U.S. Census Bureau data (2024)
The ZIP code 93591, located in Palmdale, CA, presents a dynamic housing market influenced by several key factors. The Fair Market Rent (FMR) for the area, set at $2060 for fiscal year 2024, indicates a significant benchmark for rental pricing. However, the actual market rent, reported at $1,375 according to the Census ACS, suggests that there is currently an oversupply of rental units, as evidenced by the relatively low price-cut share of 0.2%. This implies that landlords and property owners are not frequently needing to reduce their asking rents to attract tenants, which can be a sign of a balanced market where supply meets demand.
The median home value in ZIP 93591 stands at $385,514, reflecting a stable residential property market. Although the days on market (DOM) for listings is not available, the low percentage of price cuts points towards a market where properties are generally selling without the need for substantial reductions, indicating a steady demand for homeownership.
A notable statistic is the 24.2% share of renters in the area. This figure reveals that a considerable portion of the population prefers renting over owning, which could exert long-term pressure on the rental market. As the rental market constitutes a significant segment of the overall housing market, the high renter share suggests a persistent demand for rental properties. Landlords and small-portfolio investors should pay attention to this trend, as it signals a potential for steady rental income in the future.
In summary, ZIP 93591 exhibits a market where supply slightly outpaces demand, particularly in the rental sector. The low price-cut share and the presence of a substantial renter population suggest a resilient rental market, making it an attractive area for those looking to invest in rental properties. The stable median home value also supports a positive outlook for the residential property market, indicating a balance between buyers and sellers.
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.