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)
1580 is the Fair Market Rent (FMR) for ZIP 92368 as of fiscal year 2024, setting a benchmark for rental properties in the area. 1205 is the average market rent based on Census ACS data, indicating that properties priced at the FMR level are competitively positioned. 290992 represents the median home value, which is a substantial figure suggesting a robust housing market. 38.1 is the percentage of residents who are renters, highlighting a significant demand for rental units in the area. 80938 is the median income, showing that while incomes are relatively modest, they are still sufficient to support rental costs at the FMR level. Although the days on market (DOM) data is not available, it is critical for landlords to maintain competitive pricing and conditions to attract tenants quickly. Similarly, without specific data on the percentage of price-cut shares, landlords should focus on maintaining property quality to avoid needing to lower prices. In conclusion, given the strong alignment between the FMR and market rent, coupled with a sizeable renter population and reasonable median income levels, ZIP 92368 remains a viable option for Section 8 investments.
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.