Section 8 Fair Market Rent (FMR) for ZIP 92385 - 2027

Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

198

Median Household Income

$N/A

Housing Units

219

Renter Percentage

12.6%

Occupancy Rate

54.3%

Renter Occupied

The ZIP code 92385, located in Menifee, California, is a growing suburban area known for its family-friendly environment and proximity to outdoor recreational areas. The region offers a mix of residential developments and access to amenities, making it attractive for both homeowners and renters.

The Fair Market Rent (FMR) for ZIP 92385 in fiscal year 2024 is set at $1,780. This figure represents the maximum amount that a low-income household should pay in rent and utilities.
Market rent data is currently unavailable for this specific ZIP code, indicating a lack of recent comprehensive studies on rental pricing trends.
The median home value in ZIP 92385 stands at $486,618, reflecting a middle-class residential market where home ownership is accessible to many local residents.
Renters make up 12.6% of the housing market in this area, suggesting a relatively smaller demand for rentals compared to other regions.
The median income for the area is not available, which means we cannot provide a direct comparison between income levels and housing costs. However, the median home value indicates a moderate cost of living.
The Days on Market (DOM) for listings is also not available, which could imply either a stable market with consistent sales or a less active real estate market in terms of transactions.

The analysis of these data points suggests that while the area has a defined fair market rent, the lack of detailed market rent and median income data limits a full understanding of the rental market dynamics. The relatively low renter share indicates that this area might be more suitable for those interested in long-term investments in owner-occupied properties rather than rental units. Investors should consider the median home value when assessing potential investment opportunities, as it reflects the affordability and desirability of the neighborhood for homebuyers. The absence of recent transaction activity metrics makes it difficult to gauge the speed of property sales, which could affect an investor's decision regarding the timing and type of investment.

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.