Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,640 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,830 |
| 4 Bedrooms | $3,410 |
| 5 Bedrooms | $3,956 |
| 6 Bedrooms | $4,431 |
| 7 Bedrooms | $4,785 |
| 8 Bedrooms | $5,024 |
U.S. Census Bureau data (2024)
1940 is the Fair Market Rent (FMR) for ZIP 92320 (Calimesa, CA) as of fiscal year 2024. This figure represents the maximum amount landlords can charge for a Section 8 voucher. In comparison, the market rent reported by the Census Bureau's American Community Survey is 1783, indicating a slight premium for Section 8 units. The median home value in Calimesa stands at 568218, suggesting a robust housing market with potential for rental investments. Renter share in the area is relatively low at 10.7%, which could mean fewer competition for rentals but also a smaller pool of potential tenants. Median income in the region is 87181, providing insight into the financial capacity of residents to afford rent. While the days on market (DOM) data is not available, the price-cut share is 0.2%, hinting at a stable market where few properties need significant price adjustments. These metrics paint a picture of a balanced market, suitable for cautious investment. For landlords and small-portfolio investors, the difference between the FMR and market rent suggests a modest profit margin when renting to Section 8 participants. However, the low renter share might require strategic marketing to attract tenants. The high median home value indicates strong property appreciation potential, making long-term rental investments attractive. Given these factors, the verdict for Section 8 participation in Calimesa is positive, with careful consideration to tenant selection and property management practices.
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.