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 92317 stands out in its county due to a unique blend of economic factors. With only 916 residents, it has a small population base, yet 25.9% of these residents rent their homes, indicating a modest but present rental market. The median income of $99,103 suggests a middle-class community, while the median home value of $379,997 reflects a relatively high cost of homeownership compared to other areas.
The key differentiator for landlords and small-portfolio investors in ZIP 92317 is the disparity between the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) and the actual market rent. For fiscal year 2024, HUD has established an FMR of $1,940 for this ZIP code. However, according to Census American Community Survey (ACS) data, the average market rent is $1,771. This means that landlords accepting Section 8 vouchers can expect to receive slightly higher rents than the typical market rate, which can be beneficial in covering maintenance costs and ensuring profitability.
The data signature of ZIP 92317 reads as stable. Despite the relatively low number of residents, the rental market is consistent with a steady percentage of renters. Additionally, the median income and home values indicate a stable economic environment where housing remains a significant expense. For investors looking to enter or expand in this area, the slight premium offered by Section 8 vouchers can provide a solid foundation for investment decisions, especially in light of the overall stability of the local economy.
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.