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 rental market in ZIP code 92310 presents a dynamic environment that favors current conditions for landlords and small-portfolio investors. With a Fair Market Rent (FMR) set at $1970 for fiscal year 2024, the area reflects a standard benchmark for rental pricing, indicating that the government recognizes the need for affordable housing options at this level.
Comparatively, the market rent, as reported by the Census Bureau's American Community Survey (ACS), stands slightly below at $1,818. This suggests that while the FMR acts as a guideline, actual market conditions may influence rental prices to be somewhat lower. However, the lack of data on price-cut share and days on market (DOM) makes it challenging to conclusively state whether supply is outpacing demand or vice versa.
A critical factor in understanding the market dynamics is the high renter share of 98.9%. This statistic points to a significant long-term housing pressure in the area, as it indicates that almost all households are renters rather than homeowners. Such a high proportion of renters can imply several things: first, it may suggest that the area is attractive to those who prefer renting over buying, possibly due to employment opportunities, lifestyle choices, or temporary residence needs. Second, it could indicate a limited supply of affordable homes for purchase, pushing many towards the rental market. This trend supports the notion that rental properties will continue to be in high demand, providing a stable income stream for landlords and investors.
The high renter share also means that any changes in rental policies or economic conditions can have a substantial impact on the majority of residents. For investors, this underscores the importance of understanding local regulations and economic trends closely related to rental housing. It is a market where the focus should remain on maintaining competitive rental rates and ensuring property quality to attract and retain tenants.
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.