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 classification of ZIP code 92284 (Yucca Valley, CA) as a real estate market for Section 8 investors reveals a unique blend of yield and stability characteristics.
On the yield axis, the Fair Market Rent (FMR) for 2024 stands at $1,580, which is notably lower than the market rent of $1,838. This suggests that while there is potential for rental income through Section 8 vouchers, the overall yield might be somewhat constrained compared to non-subsidized rentals. However, when considering the median home value of $357,203, the FMR offers a decent return on investment, especially if acquisition costs are lower or if properties can be flipped for higher resale values.
Moving to the stability axis, the market shows a mixed profile. With 34.1% of residents being renters, there is a significant portion of the population that could benefit from Section 8 housing. The Days on Market (DOM) average of 82 days indicates a relatively quick turnover for listings, suggesting demand but also pointing towards a less stable rental environment. The median household income of $58,373 provides some assurance regarding the financial health of potential tenants, though it is still a factor that should be considered alongside other economic indicators.
In summary, ZIP 92284 leans towards a high-yield/low-stability market. The disparity between the FMR and market rent, combined with the median home value, supports a higher yield scenario. However, the low percentage of renters and the relatively high DOM average suggest a less stable environment for long-term investments. For landlords and small-portfolio investors, this area presents an opportunity for short-term gains through flipping properties or generating rental income via Section 8 vouchers, but they must be prepared for the challenges associated with maintaining a stable tenant base.
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.