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 | $1,560 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,050 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,250 |
| 5 Bedrooms | $3,770 |
| 6 Bedrooms | $4,222 |
| 7 Bedrooms | $4,560 |
| 8 Bedrooms | $4,788 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,050 | $450,576 | 0.45% | F |
| 3BR | $2,700 | $553,762 | 0.49% | F |
| 4BR | $3,250 | $600,025 | 0.54% | F |
| 5BR | $3,770 | $658,489 | 0.57% | F |
U.S. Census Bureau data (2024)
Rialto 92376 presents a pragmatic investment case within the Inland Empire, characterized by a family-oriented suburban atmosphere and improving infrastructure. The area benefits from a robust logistics network due to its proximity to major interstate freeways and the San Bernardino International Airport, which serves as a significant economic anchor and employer for local residents. This logistical connectivity supports a steady base of workforce tenants, making the neighborhood attractive for landlords seeking reliable occupancy in a bedroom community environment.
From a financial perspective, the arithmetic for voucher holders is challenging under current conditions. The FY2026 2-Bedroom Fair Market Rate (FMR) sits at $2,160, while the existing Zillow market rent index commands $2,656, creating a negative gap of $496 per month. Investors must also weigh this income ceiling against an acquisition cost of a median $566,146 home value, with properties moving relatively slowly at a median of 53 days on market. Consequently, strictly cash-flowing a property using only the standard voucher payment is difficult without substantial down payment leverage or below-market acquisition strategies.
Despite the rent gap, demand drivers remain intact. The zip code holds a renter share of 38.1% supported by a median household income of $79,675, indicating that while the area is not low-income, there is a significant portion of the population that requires rental housing. Families are drawn to the area for access to the Rialto Unified School District, and local amenities like the newly developed Renaissance Plaza offer retail and dining options that enhance neighborhood desirability. These factors help maintain tenant retention and stabilize vacancy rates even when rental premiums are tight.
The Section 8 verdict for 92376 leans toward stability and long-term appreciation rather than immediate aggressive cash flow. The substantial gap between the $2,160 FMR and the $2,656 market rent means investors should target tenants capable of "topping up" the voucher payment or look for value-add opportunities to justify higher rents. However, with median home values at $566,146, the primary profit engine here is likely equity growth, supported by the region's strategic logistics importance, rather than monthly rental surpluses from the housing authority.
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.