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 | $1,950 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,560 |
| 3 Bedrooms | $3,370 |
| 4 Bedrooms | $4,060 |
| 5 Bedrooms | $4,710 |
| 6 Bedrooms | $5,275 |
| 7 Bedrooms | $5,697 |
| 8 Bedrooms | $5,982 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,560 | $495,397 | 0.52% | F |
| 3BR | $3,370 | $629,913 | 0.53% | F |
| 4BR | $4,060 | $735,505 | 0.55% | F |
| 5BR | $4,710 | $832,393 | 0.57% | F |
U.S. Census Bureau data (2024)
Fontana’s 92336 ZIP code represents a fast-growing, family-oriented pocket of the Inland Empire, characterized by master-planned communities and a strong suburban feel. The area benefits from proximity to major logistics corridors, with the Kaiser Permanente Fontana Medical Center serving as a key institutional employer and economic anchor. Local neighborhoods offer a mix of newer single-family developments and established retail centers, creating an environment that appeals to long-term residents seeking stability outside of Los Angeles’s urban core.
From a valuation standpoint, the market presents a stark contrast between market rates and HUD caps. The median home value sits at $705,174, with a median 2BR sales price of $498,894 and listings sitting on the market for 53 days. However, rental math is the critical constraint here: the HUD Fair Market Rent (FMR) for a 2BR unit is $2,660, while current ZORI market rent reaches $3,415. This results in a negative gap of $755 per month, meaning strict Section 8 voucher holders cannot compete with market-rate tenants without landlord concessions.
The tenant pool here is financially robust yet relatively small, as only 20.2% of households rent. With a median household income of $123,363, the local population generally commands purchasing power that exceeds typical Housing Authority limits. This demographic reality, combined with highly rated school districts in the southern part of the city, suggests that voucher demand may be lower than in lower-income neighboring zones, as families often prefer to utilize their income for direct market leases in desirable school zones.
Given the data, the strongest investor angle in 92336 is long-term appreciation and stability rather than immediate Section 8 cash flow. The $755 gap between market rent and the 2BR FMR makes standard voucher leasing difficult for owners paying premium prices for $498,894 homes. Investors should treat this as a hold-to-appreciate market, using the Section 8 program as a safety net for vacancies only if willing to absorb the discount, rather than as a primary strategy for maximizing monthly yield.
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.