Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
The ZIP code 91729 is located in Rancho Cucamonga, CA, a city known for its suburban character and growing population. As of the latest data, the total population of the area is 21,729. Approximately 29% of residents are renters, indicating a mix of homeowners and tenants. The median household income stands at $56,729, reflecting a middle-class community. The median home value is $281,262, which suggests that the neighborhood is affordable for many families.
Regarding the rent economics, the Fair Market Rent (FMR) for ZIP 91729 in fiscal year 2024 is set at $1940. This figure is crucial for Section 8 landlords and investors, as it defines the maximum allowable rent for subsidized units. It's worth noting that the actual market rent for the area is slightly higher, at $2000, according to recent real estate data. This indicates that there is a slight premium for non-subsidized units, but the difference is minimal, suggesting a balanced market where both types of rentals can coexist effectively.
Considering the practical aspects of investment, ZIP 91729 is well-suited for a hands-off voucher operator due to its stable demographics and reasonable median home values. The close alignment between FMR and market rents also supports this approach, minimizing the risk of significant loss or vacancy. However, for a hands-on value-add buyer, the opportunity exists to capitalize on the growing income levels and improving economic conditions. With a median household income increase of 47.2% since 2000, there is potential for enhancing property values through strategic improvements and upgrades.
In conclusion, ZIP 91729 offers a solid foundation for both hands-off and hands-on investors, depending on their goals and risk tolerance. For those looking to enter the Section 8 market, the area presents a stable environment with manageable rents. For more active investors, the increasing income levels and potential for value appreciation provide a compelling reason to consider making targeted investments in the neighborhood.
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.