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 | $1,610 |
| 1 Bedroom | $1,710 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,350 |
| 5 Bedrooms | $3,886 |
| 6 Bedrooms | $4,352 |
| 7 Bedrooms | $4,700 |
| 8 Bedrooms | $4,935 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,710 | $240,096 | 0.71% | D |
| 2BR | $2,110 | $294,348 | 0.72% | D |
| 3BR | $2,780 | $366,929 | 0.76% | D |
U.S. Census Bureau data (2024)
ZIP code 92341, located in Green Valley Lake, CA, falls within the larger Riverside-San Bernardino-Ontario, CA Metropolitan Statistical Area (MSA). To contextualize its position, let's analyze the key figures provided.
The Fair Market Rent (FMR) for ZIP 92341 in fiscal year 2024 is set at $1580. This figure is critical for understanding the rental market dynamics, especially for Section 8 housing vouchers. However, the market rent is listed as N/A, which suggests that either the data is not available or the market rent closely aligns with the FMR, making it a reliable indicator for rental pricing.
The median home value in ZIP 92341 is $305,477. Comparatively, this is lower than the average home values found in many ZIP codes within the Riverside-San Bernardino-Ontario MSA, which tend to be higher due to the broader regional economic conditions and varying degrees of urbanization.
The renter share in ZIP 92341 stands at 23.1%, indicating that a significant portion of the residents are renters rather than homeowners. This percentage is notable because it exceeds the national average, suggesting a strong demand for rental properties. In the context of Section 8 eligibility and usage, a higher renter share combined with relatively lower home values can signal a favorable environment for landlords who accept Section 8 vouchers.
Based on these figures, ZIP 92341 appears to be a value pocket within its metro area. The lower median home value compared to the broader MSA suggests that it might be an affordable option for both renters and owners. Additionally, the substantial renter share points towards a robust rental market, particularly conducive for Section 8 participants. This combination makes 92341 a strategic location for landlords and small-portfolio investors looking to capitalize on the demand for affordable rental housing.
To provide a more comprehensive analysis, it would be beneficial to compare these figures with the typical metrics across the entire Riverside-San Bernardino-Ontario MSA. However, given the specific data points, it is evident that 92341 offers distinct advantages for those interested in the rental market dynamics influenced by Section 8 programs.
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.