Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
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 | $2,400 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $3,150 |
| 3 Bedrooms | $4,150 |
| 4 Bedrooms | $5,000 |
| 5 Bedrooms | $5,800 |
| 6 Bedrooms | $6,496 |
| 7 Bedrooms | $7,016 |
| 8 Bedrooms | $7,367 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,150 | $683,364 | 0.46% | F |
| 3BR | $4,150 | $854,863 | 0.49% | F |
| 4BR | $5,000 | $1,018,083 | 0.49% | F |
| 5BR | $5,800 | $1,171,968 | 0.49% | F |
U.S. Census Bureau data (2024)
The Section 8 housing analysis for ZIP code 91784, located in Upland, CA, reveals a significant discrepancy between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $3020, while the Zillow Observed Rent Index (ZORI) indicates that the average market rent is $3759. This creates a gap of $739, or approximately 24.5%, between what landlords can charge through the Section 8 program and the prevailing market rates.
In Upland, where only 14.7% of residents are renters and the median home value stands at $986,158, the disparity between FMR and market rents is particularly pronounced. The median household income of $154,349 further underscores the economic conditions that contribute to higher rental costs.
Landlords who participate in the Section 8 program in Upland will have to accept a lower rent compared to the open market. This means that if you own a property in this area and decide to lease it under the Section 8 program, you will be collecting $739 less per month than what the market would typically bear. This reduction equates to a significant portion of potential income, making it a critical factor for any landlord or small-portfolio investor considering participation in the program.
The decision to take on Section 8 tenants must be carefully weighed against the overall financial strategy. While the program provides a steady stream of rent payments guaranteed by the government, the reduced rate could impact the yield on investment properties. For those who choose to accept Section 8 vouchers, it's important to understand the trade-offs involved in renting below market rates.
To put this into perspective, consider the following:
In conclusion, the gap between FMR and market rent in Upland, CA, is substantial and must be considered when deciding to engage with the Section 8 program. This analysis provides a clear picture of the financial implications for landlords and investors in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.