Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,860 |
| 4 Bedrooms | $3,440 |
| 5 Bedrooms | $3,990 |
| 6 Bedrooms | $4,469 |
| 7 Bedrooms | $4,827 |
| 8 Bedrooms | $5,068 |
The ZIP code 92235 is located in Cathedral City, California, within Riverside County. The neighborhood has a total population of 51,151 residents, with a median household income of $44,440. The median home value stands at $179,400.
In terms of rental dynamics, the Fair Market Rent (FMR) for ZIP 92235 in fiscal year 2024 is set at $2,090. While specific percentages of renters and market rent data were not found, the FMR provides a benchmark for rental pricing in the area.
For Section 8 investors, Cathedral City's economic profile suggests it could be suitable for both hands-off voucher operators and hands-on value-add buyers. The relatively low median income and home values indicate that there is demand for affordable housing options. For hands-off operators, the established FMR offers a clear guideline for setting rents that align with government assistance levels. Meanwhile, hands-on investors might find opportunities to improve properties and increase their value, given the area's potential for growth and improvement.
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.