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 92309 is a renter-heavy area with 72.8% of its population renting their homes. This high percentage indicates a significant demand for rental properties, particularly those that accept Section 8 vouchers. The market rent for this area is $877 per month, which is notably lower than the Fair Market Rent (FMR) of $1580 set for FY 2024. Given the lack of median household income data, we can infer that the local income levels are likely below the regional average, making the $877 market rent affordable for many residents.
To put this into perspective, if we assume a typical local household earns an income around the national poverty line for a family of four ($27,636 annually), the $877 monthly rent would consume approximately 35% of their gross income. This is significantly less than the 40% threshold often considered affordable by housing experts. However, the actual local income could be even lower, pushing the rent-to-income ratio higher.
The disparity between the market rent and the FMR suggests that there is ample opportunity for Section 8 vouchers to cover a substantial portion of the rent in this area. Landlords in 92309 should anticipate tenants who rely on government assistance to afford housing. These tenants will have a strong interest in securing stable, affordable living spaces and will likely be drawn to properties that offer reasonable amenities at or near the $877 market rate.
In summary, ZIP 92309 presents itself as an ideal location for landlords interested in serving a robust tenant pool that heavily relies on Section 8 vouchers. With the majority of the population renting and the market rent well below the FMR, landlords can expect a steady flow of qualified applicants seeking affordable housing options.
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.