Section 8 Fair Market Rent (FMR) for ZIP 92344 - 2027

Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA

Investment Score for ZIP 92344

Monthly Rent (2BR)

$2,490

Median Price (2BR)

$362,053

1% Rule

0.69%

Annual Yield

8.25%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,900
1 Bedroom	$2,020
2 Bedrooms	$2,490
3 Bedrooms	$3,280
4 Bedrooms	$3,950
5 Bedrooms	$4,582
6 Bedrooms	$5,132
7 Bedrooms	$5,543
8 Bedrooms	$5,820

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,490	$362,053	0.69%	D
3BR	$3,280	$491,026	0.67%	D
4BR	$3,950	$535,739	0.74%	D
5BR	$4,582	$546,859	0.84%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

21,349

Median Household Income

$98,071

Housing Units

6,431

Renter Percentage

18.0%

Occupancy Rate

95.2%

Renter Occupied

1,103

The ZIP code 92344, located in Hesperia, CA, offers a unique blend of affordability and accessibility, situated in San Bernardino County. Known for its suburban charm and proximity to outdoor recreational areas, Hesperia provides both residents and visitors with a quality living environment.

The Fair Market Rent (FMR) for ZIP 92344 in fiscal year 2024 is set at $2410, indicating the government's benchmark for rental costs in the area.
The market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $2,438, closely aligning with the FMR and reflecting current tenant willingness to pay.
The median home value in Hesperia is $516,136, offering a mix of affordable and mid-range housing options for potential homeowners and investors alike.
Renters make up 18.0% of the population, suggesting a moderate demand for rental properties.
The days on market (DOM) average is 56 days, which is relatively short, implying that homes in Hesperia sell quickly once listed.
The median household income in the area is $98,071, providing insight into the economic stability and spending power of local residents.

Investors considering entering the Hesperia real estate market can expect steady returns given the alignment between government-set FMR and actual market rents. The moderate renter share indicates a balanced market, while the quick DOM suggests strong buyer interest. Coupled with a stable median income, these factors collectively paint a picture of a resilient market where investment opportunities abound, particularly in rental properties that cater to the local economic conditions.

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.