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 |
To classify ZIP code 92263 in Unknown, CA, we need to analyze the data points available: the Fair Market Rent (FMR) for 2024, which is set at $2090. This figure represents the maximum rent a landlord can charge for a unit under the Section 8 program. However, the market rent and home values are not provided, which limits our ability to fully assess the yield potential relative to these benchmarks.
On the axis of yield, if we assume that the FMR is indicative of the rental market in the area, then the potential to achieve higher yields through Section 8 is clear. Landlords can expect to receive $2090 per month for a unit that meets the program's requirements, without the typical fluctuations seen in non-subsidized markets. This suggests a high-yield environment, particularly for those who can manage their properties efficiently to stay within the subsidy limits.
Regarding stability, the data provided does not include percentages of renters, days on the market (DOM), or median income levels. These metrics are crucial for understanding how stable the rental market is and whether tenants have the financial means to maintain consistent payments. Without these figures, it's challenging to determine the stability of the market accurately. However, given that the FMR provides a fixed income stream, there is an inherent stability in the cash flow for Section 8 landlords, assuming the program continues as expected.
Based on the available data, ZIP 92263 leans towards being a high-yield/medium-stability market. The high yield comes from the guaranteed rent amount through the FMR. The medium-stability classification is due to the lack of specific data on the percentage of renters, days on the market, and income levels, which would provide a clearer picture of the broader economic conditions affecting the property's occupancy and tenant turnover rates. For landlords and small-portfolio investors, this ZIP code offers a predictable income source but requires further investigation into local economic factors to gauge long-term stability.
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.