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 |
|---|---|---|---|---|
| 1BR | $1,600 | $244,582 | 0.65% | D |
| 2BR | $1,990 | $325,330 | 0.61% | D |
| 3BR | $2,630 | $469,315 | 0.56% | F |
| 4BR | $3,170 | $610,758 | 0.52% | F |
| 5BR | $3,677 | $796,177 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP 92314, located in Big Bear City, CA, within the Riverside-San Bernardino-Ontario, CA MSA metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 92314 in fiscal year 2024 is set at $1,650, which is significantly lower than the market rent of $2,175. This creates a $525 monthly spread, allowing landlords to secure stable rental income while mitigating risks associated with market volatility.
The median home value in ZIP 92314 stands at $416,485, providing a solid foundation for property investment. Despite the relatively low FMR, the area maintains a strong demand for housing, evidenced by a 78-day Days on Market (DOM) average. This indicates that properties listed for rent are occupied relatively quickly, ensuring minimal vacancy periods and consistent cash flow.
A key factor supporting the role of ZIP 92314 as a cash-flow anchor is the low price-cut share of 0.2%. This suggests that landlords can maintain their asking rents without needing to reduce them to attract tenants, further securing steady cash flow. Additionally, the 28.1% renter share demonstrates a significant portion of the population who rely on rental housing, including those eligible for Section 8 assistance. With a median income of $74,910, many residents qualify for the program, making it a reliable source of tenants.
In conclusion, ZIP 92314 offers a robust opportunity for landlords and small-portfolio investors looking to stabilize their rental income. The substantial gap between the FMR and market rent, combined with quick occupancy rates and a high percentage of renters, makes this area a prime candidate for a cash-flow anchor within a Section 8 portfolio strategy.
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.