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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,990 | $339,234 | 0.59% | F |
| 3BR | $2,630 | $377,457 | 0.7% | D |
| 4BR | $3,170 | $411,816 | 0.77% | D |
U.S. Census Bureau data (2024)
The ZIP code 92282, located in White Water, CA, presents a dynamic rental market that reflects broader economic trends and housing pressures. The Fair Market Rent (FMR) for the area is set at $1970 for fiscal year 2024, indicating the government's benchmark for what is considered a reasonable rent for a two-bedroom apartment. In contrast, the actual market rent, as per the Census American Community Survey, stands at $1,185. This suggests that there is a significant gap between the FMR and the market rent, which could be indicative of either a highly competitive market where rents are artificially low due to abundant supply, or a market where tenants have strong bargaining power.
The median home value in ZIP 92282 is $394,379, reflecting the overall property values in the area. However, the lack of specific data on the percentage of price cuts and days on the market (DOM) makes it challenging to definitively state whether the supply outpaces demand or vice versa. Nonetheless, the observed disparity between FMR and market rent points towards a scenario where the supply might be relatively high compared to demand, allowing for lower rents than the government's suggested fair market rate.
The 19.2% share of renters in the area provides insight into the long-term housing pressure. A lower renter share often implies that homeownership is prevalent, but in this case, it signals a moderate level of rental activity. This can suggest that while there is not an overwhelming number of renters, the presence of a substantial rental market indicates ongoing housing pressure. Landlords and small-portfolio investors should take note of this balance, as it suggests a steady demand for rental properties without reaching critical levels that would typically drive up rents significantly.
In summary, ZIP 92282 exhibits a market where rental dynamics are influenced by both economic factors and the relative abundance of housing stock. For investors, understanding these dynamics is crucial in making informed decisions about property investments and management strategies. The current snapshot reveals a market that is neither oversupplied nor under-supplied, maintaining a balance that supports a stable rental environment.
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.