Section 8 Fair Market Rent (FMR) for ZIP 92410 - 2027

Investment Score for ZIP 92410

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	$1,530
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

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	$1,600	$307,581	0.52%	F
2BR	$1,990	$382,954	0.52%	F
3BR	$2,630	$467,174	0.56%	F
4BR	$3,170	$517,455	0.61%	D
5BR	$3,677	$550,126	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 92410 (San Bernardino, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 92410, as set by HUD for 2026, is $2,080 for a two-bedroom unit. This figure represents 46.1% of the median household income in the area, which stands at $54,181. The FMR is designed to reflect the average rent levels that voucher holders can afford. However, it is important to understand how this compares to actual rents in the market. According to Zillow, the median price for a two-bedroom home in 92410 is $379,829. This translates to a price-to-FMR ratio of 15.2x, indicating that the actual market rent is significantly higher than the FMR. For example, if we assume a typical rental yield of 5%, the implied monthly rent would be around $1,582.50 ($379,829 * 0.05 / 12). This is well below the FMR of $2,080, suggesting that landlords who accept Section 8 vouchers might have to charge close to the FMR to remain competitive and profitable. Given that the occupancy rate is 93.9%, there is a high demand for housing in the area. However, the constraints for voucher holders are significant. They must find landlords willing to accept Section 8 vouchers, and the rent cannot exceed the FMR. In a market where the actual rent is much higher, this could limit their options, especially in areas with high demand like 92410. #### Affordability & Renter Profile ZIP code 92410 has a population of 47,869, with 58.3% of residents being renters. This indicates a strong rental market with a large number of individuals relying on rental properties. Given the median household income of $54,181, many residents may struggle to afford market-rate rents, particularly for larger units. The FMR for a three-bedroom unit is $2,780, which is 51.3% of the median household income. This suggests that families with multiple children may find it challenging to secure affordable housing without assistance. The four-bedroom FMR of $3,380 further underscores the affordability issue, representing 62.4% of the median household income. In summary, the market in 92410 is tight, with high demand and limited supply. The disparity between FMR and actual market rents means that many residents rely heavily on rental assistance programs like Section 8 to find suitable housing. The high percentage of renters and the relatively low median income indicate that affordability is a significant concern. #### Investor Angle From an investor’s perspective, the key question is whether accepting Section 8 vouchers can provide a positive cash flow. Based on the FMR data, landlords can charge up to $2,080 for a two-bedroom unit. However, the actual market rent is likely higher due to the tight market conditions and high occupancy rates. Assuming a conservative estimate of market rent at $1,582.50 per month (based on the Zillow median price), the difference between the FMR and market rent is substantial. Landlords who accept Section 8 vouchers can potentially charge closer to the FMR, which would provide a better cash flow compared to market rates. However, the investment grade of properties in 92410 depends on several factors, including maintenance costs, vacancy rates, and the overall economic environment. Given the high occupancy rate, the risk of vacancy is relatively low, which is favorable for investors. Additionally, the demand for rental properties is strong, which supports the idea that Section 8 vouchers can help stabilize cash flows. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Given the high demand for rental properties and the tight market conditions, investing in two-bedroom units is advisable. The FMR for these units is $2,080, which is a reasonable rent level for voucher holders. This can ensure steady cash flow and a lower risk of vacancy. 2. **Consider Three-Bedroom Units**: While the FMR for three-bedroom units is $2,780, this represents a significant portion of the median household income. Families with children are likely to be the primary tenants for these units. Investors should be prepared to offer amenities and maintain high-quality living conditions to attract and retain these tenants. 3. **Monitor Local Economic Indicators**: The local economy plays a crucial role in the rental market. Keeping an eye on employment trends, median income growth, and any changes in the rental landscape can provide valuable insights into future market dynamics. For instance, if the median income increases, the affordability gap may narrow, making market-rate rents more accessible to residents. #### Bottom Line For Section 8-focused investors, ZIP code 92410 presents a mixed picture. On one hand, the high demand and occupancy rates make it a stable market. On the other hand, the significant disparity between FMR and market rents poses challenges for voucher holders and may limit the pool of potential tenants. **Recommendation**: **Buy**. Despite the challenges, the strong rental market and high demand suggest that properties in 92410 can be profitable for investors willing to accept Section 8 vouchers. Focusing on two-bedroom units and monitoring local economic indicators will be key to success in this market.

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.