What are current rents in North Hollywood/Burbank CA? Sec 8?

Question

I am looking at buying a 4 plex in North Hollywood.  I will be living in one unit.  Rents seem to be sliding and wondering if anyone has any experience with the housing vouchers there.

Marlo Boutte · Answer

Thanks Rick.  Yes, I ended up finding out quite a bit about the market.  My family has Sec 8 rentals and have done very well with them in different cities.  Just wondering about LA.  I acutally used to live in an apartment complex in North Hollywood, where I found out I was the only way actually paying rent. lol It was a nice complex. It's good to know that it has to be accepted.  Well, I'm on the search for a commercial agent to help with my venture.

Rick Albert · Answer

Right now Los Angeles is at a 4-year low for rents. Many of the projects developers have been working on are finally coming to fruition. This includes the Citrus Commons in Sherman Oaks, Solterra coming up in Granada Hills, and the Alexan in North Hollywood. This doesn't include the smaller developers taking single family homes and adding units (especially in NoHo where properties are zoned for MFU). With more supply means lower prices. It's going to be like this for a while until everything is rented.

All I've heard about Section 8 housing is that the checks can take a minute to come in and it is just more bureaucracy with the City. To be fair it is now against the law to discriminate against Section 8 because of source of income so you may be heading that way anyways.

Richard F. · Answer

You can look up Fair Market Rents through HUD by zipcode here.