Location: Riverside-San Bernardino-Ontario, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
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 | $1,520 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,610 | $279,126 | 0.58% | F |
| 2BR | $1,990 | $369,426 | 0.54% | F |
| 3BR | $2,620 | $472,037 | 0.56% | F |
| 4BR | $3,150 | $542,297 | 0.58% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 92397, Wrightwood, CA, on the yield and stability axes reveals a nuanced market scenario. On the yield axis, the Federal Market Rent (FMR) for a unit priced at $2,000 in fiscal year 2024 contrasts significantly with the local market rent of $1,833. This indicates a potential rental upside if properties can be leased at the FMR rate. However, the median home value of $429,223 suggests that the cost of acquiring investment properties in this area is relatively high, which could moderate the overall yield.
Moving to the stability axis, the percentage of renters at 22.8% is noteworthy. While this figure does not indicate a highly transient population, it also does not suggest strong demand for rentals. The absence of data regarding the average days on market (DOM) makes it challenging to assess how quickly units might turn over, but the median household income of $77,250 provides some assurance about the financial capability of potential tenants.
Given these figures, ZIP 92397 does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it represents a middle-ground scenario where the potential for higher yields exists due to the disparity between FMR and market rents, but the relatively high home values and moderate renter population suggest a need for careful management and possibly longer-term investment strategies. Landlords and small-portfolio investors should focus on areas where they can leverage the FMR advantage while being prepared for the possibility of slower property turnover rates.
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.