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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 92364 in fiscal year 2024 is set at $1940. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to cover a tenant's rent under the Section 8 housing program. It is important to note that this is not the actual rent you would charge your tenants; it is the reimbursement limit for the government.
To put this into perspective, the local market rent for ZIP 92364 is currently N/A, which means that if the local rents are higher than $1940, you may need to adjust your expectations on the rental income you can receive from the program. However, given that the average renter share is 100.0%, it indicates strong demand for affordable housing in this area. Landlords should be prepared to offer competitive rates to attract tenants who qualify for Section 8 assistance.
The acquisition cost for properties in ZIP 92364 is also N/A, suggesting that there is limited data available regarding property prices. Nonetheless, when considering the FMR of $1940, landlords must ensure that their total costs—rental income plus any additional subsidies they might provide—are covered. This includes mortgage payments, property taxes, insurance, maintenance, and other expenses.
Before proceeding with your first Section 8 rental in ZIP 92364, verify that your property meets HUD's Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary. Failure to meet these criteria could result in disqualification from the program, leading to potential financial losses and wasted effort.
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.