Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
U.S. Census Bureau data (2024)
The ZIP code 92258 is located in the city of Orange, California, a suburban area known for its mix of residential and academic environments. With a population of 474, it's evident that this is a relatively small and close-knit community. In terms of housing, 45.9% of residents are renters, indicating a significant portion of the local population relies on rental properties. The median household income in this area is $52,757, which is modest but reflective of a stable middle-class demographic. The median home value stands at $278,327, suggesting that while property values are not exorbitantly high, they do offer a solid investment opportunity.
Moving into the economic realities of renting, the Fair Market Rent (FMR) for ZIP 92258 as of the fiscal year 2024 is set at $1,670. This is notably higher than the average market rent reported by the Census Bureau's American Community Survey (ACS), which is $1,380. This discrepancy highlights a potential opportunity for landlords who can leverage the higher FMR rates offered through the Section 8 program to achieve better returns on their investments compared to the typical market rent.
Given these conditions, ZIP 92258 could be an attractive option for both hands-off voucher operators and hands-on value-add buyers. For those who prefer a hands-off approach, the stability of Section 8 rents provides a predictable and reliable income stream, with the added benefit of government subsidies covering the gap between market rent and what tenants can afford based on their income. On the other hand, for hands-on investors looking to add value, the potential exists to renovate properties and charge closer to the FMR rate, thereby increasing the cash flow from Section 8 tenancy.
In summary, ZIP 92258 presents a balanced environment for real estate investment, offering a blend of manageable property values and favorable Section 8 rental rates. Whether you're seeking passive income or an active role in managing and improving your portfolio, this ZIP code provides a promising setting for achieving your investment goals.
Data Sources: FMR data from HUD (2027). 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.