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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,990 | $473,985 | 0.42% | F |
| 3BR | $2,630 | $554,061 | 0.47% | F |
| 4BR | $3,170 | $613,204 | 0.52% | F |
| 5BR | $3,677 | $722,164 | 0.51% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 92316, Bloomington, CA, within San Bernardino County, operate under the federal government's guidelines, specifically the Small Area Fair Market Rent (SAFMR) which sets the rental assistance payment rates. For a two-bedroom apartment, the SAFMR for FY 2024 is $1780. This figure is critical because it represents the maximum amount that a landlord can receive from the housing authority for a unit that participates in the Section 8 program.
However, the local market rent for a similar unit, as per the Census American Community Survey (ACS), is $1484. This indicates that the SAFMR is higher than the average market rent, potentially offering a financial advantage to landlords who accept Section 8 vouchers.
A landlord should understand that the total reimbursement received from a voucher includes both the tenant's portion of the rent and any utility allowances. Typically, the tenant is responsible for paying approximately 30% of their adjusted income towards rent. If we assume an average adjusted income of $1484 for the tenant, their portion would be around $445.20. The remainder of the rent, up to the SAFMR limit of $1780, is covered by the housing authority.
In ZIP 92316, the SAFMR being set at the ZIP level means that this rate is specifically tailored to the rental market conditions of this area, providing a more accurate reflection of local rents compared to a broader county-wide rate. Utility allowances are also factored into the total reimbursement but vary based on individual circumstances and the specific terms of the voucher.
To illustrate, if a landlord charges $1780 for a two-bedroom apartment, and the tenant's portion is $445.20, then the housing authority will pay the difference, which is $1334.80. In this case, there is no surplus or shortfall since the rent aligns perfectly with the SAFMR. However, if the landlord charges less than $1780, say $1484, the housing authority will still cover the difference between the tenant's portion and the charged rent, resulting in a surplus for the landlord.
In ZIP 92316, landlords can expect a reimbursement gap or surplus depending on how they price their units relative to the SAFMR. Given the local market rent is lower than the SAFMR, landlords are likely to see a surplus when setting their rent at market levels. The typical surplus for a two-bedroom unit, assuming market rent, would be $395.80 ($1780 - $1484).
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.