Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
ZIP code 92393, situated within the Riverside-San Bernardino-Ontario, CA MSA, has a Fair Market Rent (FMR) of $1940 for fiscal year 2024. This places it above the typical FMR range for a two-bedroom unit, which generally falls between $1500-$1900 in the broader metro area. For context, the FMR for a two-bedroom home in the Riverside-San Bernardino-Ontario MSA was $2,010 in the fiscal year 2025, representing a significant increase from the previous year.
Despite the absence of specific market rent and home value data for ZIP 92393, we can infer that its higher FMR suggests it is a mid-tier neighborhood within the MSA. The average rents in the region, as reported by HUD, range from $1,275 for a one-bedroom home to $2,525 for a four-bedroom home, indicating that 92393's FMR aligns with the upper end of these averages for two-bedroom units.
The lack of detailed home value and renter share percentages for ZIP 92393 means we cannot conclusively determine if it represents a value pocket or a premium sub-market. However, if the surrounding areas have lower FMRs but comparable or higher renter shares, then ZIP 92393 could be an attractive option for Section 8 investments due to its higher FMR and potential for higher tenant demand.
To summarize, while ZIP 92393 is positioned as a mid-tier neighborhood within the Riverside-San Bernardino-Ontario, CA MSA based on its FMR, its exact classification as a value pocket or premium sub-market requires additional data on market rent, home values, and renter share percentages. Landlords and small-portfolio investors should consider the higher FMR in their investment strategies, particularly if the area maintains a competitive renter share.
Data Sources: FMR data from HUD (2027).
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.