Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,920 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,520 |
| 3 Bedrooms | $3,320 |
| 4 Bedrooms | $4,000 |
| 5 Bedrooms | $4,640 |
| 6 Bedrooms | $5,197 |
| 7 Bedrooms | $5,613 |
| 8 Bedrooms | $5,894 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,040 | $378,937 | 0.54% | F |
| 2BR | $2,520 | $520,184 | 0.48% | F |
| 3BR | $3,320 | $669,985 | 0.5% | F |
| 4BR | $4,000 | $827,025 | 0.48% | F |
| 5BR | $4,640 | $1,182,336 | 0.39% | F |
U.S. Census Bureau data (2024)
ZIP code 92373, located in Redlands, CA, has a population of 35,257 residents. With 50.4% of the population being renters, this area is moderately renter-heavy, indicating a significant but not overwhelming demand for rental properties. The median household income in this ZIP is $101,271, which places it in a higher-income bracket compared to national averages.
The market rent for the area stands at $2,315 per month. This represents approximately 22.8% of the median household income, suggesting that typical rent consumes a substantial portion of local incomes. For context, the Fair Market Rent (FMR) for ZIP 92373 is set at $2,330 for FY 2024, which closely aligns with the current market rent, indicating a balanced market condition.
Despite the relatively high income levels, the percentage of renters suggests that there is a notable demand for housing assistance programs such as Section 8 vouchers. However, given the higher median income, the depth of voucher demand might be less pronounced compared to areas with lower median incomes. Landlords can anticipate a mix of tenants, including those who might be using Section 8 vouchers alongside other forms of financial support or private payers who can afford the market rent without assistance.
To conclude, while ZIP 92373 is not dominated by homeowners, it also isn't a high-density voucher area. Landlords should prepare for a diverse tenant pool, with some tenants relying on housing vouchers to meet their monthly rental obligations. However, the majority of tenants are likely to be individuals or families who can afford the market rent independently, given the robust median household income. The close alignment between market rent and FMR indicates a stable rental environment, making it an attractive area for landlords and small-portfolio investors looking for consistent returns.
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.