Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
ZIP code 92357, located within the Riverside-San Bernardino-Ontario, CA MSA, presents an interesting case for real-estate analysis, particularly for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 92357 in fiscal year 2024 is set at $1940. This figure is critical for understanding the rental market dynamics in the area.
To contextualize the FMR of $1940, it's essential to compare it against typical ZIP codes within the Riverside-San Bernardino-Ontario, CA MSA. The FMR is used to determine payment standards for housing assistance programs, including Section 8. While specific market rent and home value data for ZIP 92357 are currently unavailable, the FMR can serve as a proxy for assessing the overall cost of living and rental trends in the area.
The Riverside-San Bernardino-Ontario, CA MSA generally has lower-than-average home values and rents compared to other major metropolitan areas in California. Given that ZIP 92357's FMR is $1940, it suggests that the area could be considered a mid-tier neighborhood within its metro. This is because the FMR is neither exceptionally low nor high when compared to the broader regional context.
The lack of available market rent and home value data makes it challenging to definitively categorize ZIP 92357 as a value pocket or a premium sub-market. However, the absence of these figures might indicate that the area is less developed or has fewer properties listed on real estate platforms, which could make it less competitive but also potentially attractive for investors looking for undervalued opportunities.
The renter share percentage for ZIP 92357 is also not available. Typically, a high renter share combined with below-average home values can signal a favorable environment for Section 8 housing. Since we do not have the exact renter share percentage, we cannot conclusively state if this ZIP code represents a sweet spot for Section 8 investments. Nonetheless, the relatively moderate FMR of $1940 suggests that there could be potential for steady, affordable rental income without the volatility associated with higher-end markets.
In summary, while ZIP 92357 appears to be a mid-tier neighborhood within the Riverside-San Bernardino-Ontario, CA MSA based on its FMR, the lack of comprehensive data limits a full assessment of its potential as a value pocket or premium sub-market. For landlords and small-portfolio investors, the area offers a stable rental environment with reasonable expectations for returns.
Data Sources: FMR data from HUD (2027).
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.