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 92347 stands out within the county due to its unique demographic and economic characteristics. With a population of 766 residents, it has a rental rate of 30.9%, indicating a significant portion of the community relies on rented housing. The median income for residents is $58,833, while the median home value is notably higher at $160,880. This suggests that homeownership is relatively expensive compared to the average income level.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 92347 in fiscal year 2024 is set at $1,580. This figure is considerably above the market rent, which is reported at $1,265 according to the Census ACS data. Landlords participating in the Section 8 program can expect a higher rent payment than the typical market rate, making it an attractive option for maintaining or increasing cash flow.
Given the data signature of ZIP 92347, the area can be characterized as stable. The modest population size combined with a steady rental rate and a defined difference between market rent and FMR indicates a predictable environment for landlords and small-portfolio investors. The higher FMR compared to the market rent ensures that landlords receive a consistent and reliable income stream, mitigating risks associated with fluctuating rental markets. Additionally, the high median home value suggests a robust local real estate market, which can provide further stability and potential for long-term investment returns.
For landlords and small-portfolio investors, ZIP 92347 presents a clear opportunity to leverage the Section 8 program effectively. The economic conditions support a stable occupancy rate, and the favorable voucher economics can help maintain profitability. Given these factors, it is advisable to consider properties in this ZIP code as part of a diversified investment strategy, especially if you are looking for areas with a reliable tenant base and solid financial backing through government assistance programs.
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.