Section 8 Fair Market Rent (FMR) for ZIP 92386 - 2027

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

Investment Score for ZIP 92386

Monthly Rent (2BR)

$2,420

Median Price (2BR)

$287,227

1% Rule

0.84%

Annual Yield

10.11%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,850
1 Bedroom	$1,960
2 Bedrooms	$2,420
3 Bedrooms	$3,190
4 Bedrooms	$3,840
5 Bedrooms	$4,454
6 Bedrooms	$4,988
7 Bedrooms	$5,387
8 Bedrooms	$5,656

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,960	$216,897	0.9%	C
2BR	$2,420	$287,227	0.84%	C
3BR	$3,190	$373,600	0.85%	C
4BR	$3,840	$431,708	0.89%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,042

Median Household Income

$50,694

Housing Units

3,133

Renter Percentage

36.7%

Occupancy Rate

31.3%

Renter Occupied

360

Sugarloaf, California, located in ZIP code 92386, is a suburban community that offers a mix of residential living and natural beauty. The area is known for its proximity to outdoor recreational areas and its relatively affordable housing options compared to larger coastal cities. This analysis will provide key insights into the real estate market dynamics of Sugarloaf, focusing on metrics relevant to Section 8 landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 92386 in fiscal year 2024 is set at $1840 per month for a standard two-bedroom unit, which reflects the government's assessment of rental affordability.
The Zillow Observed Rent Index (ZORI) indicates that the average market rent for a similar two-bedroom property in Sugarloaf is $2,000, suggesting a slight premium over the FMR for properties that meet market standards.
The median home value in Sugarloaf stands at $306,320, making it an attractive location for those looking to invest in moderately priced real estate.
Renters make up 36.7% of the local population, indicating a significant portion of residents who rely on rental housing, which could be a stable source of demand for Section 8 properties.
The median income in Sugarloaf is $50,694, providing a context for the financial capabilities of potential tenants and buyers.

In summary, Sugarloaf presents a balanced opportunity for real estate investment, particularly for those interested in Section 8 housing. With the FMR slightly below the market rent, there is a margin for landlords to operate profitably while still being accessible to low-income households. The median home value and income levels suggest a moderate cost of living, suitable for families and individuals seeking affordable housing options. The substantial renter share points towards ongoing demand for rental units, making it a favorable environment for landlords and small-portfolio investors looking to capitalize on steady tenant populations.

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.