Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,170 |
| 3 Bedrooms | $2,860 |
| 4 Bedrooms | $3,440 |
| 5 Bedrooms | $3,990 |
| 6 Bedrooms | $4,469 |
| 7 Bedrooms | $4,827 |
| 8 Bedrooms | $5,068 |
ZIP 92516, located in the Riverside-San Bernardino-Ontario, CA MSA, fits best into a Section 8 portfolio strategy as an appreciation play. Although specific data on the median home value and market prices are not available, the Fixed Monthly Rent (FMR) for ZIP 92516 in fiscal year 2024 is set at $2090. This figure serves as a critical benchmark for rental properties within the area.
The absence of definitive data on the price-cut share and days on market (DOM) does not preclude the potential for appreciation. In markets where Section 8 plays a significant role, properties often experience steady value growth over time due to the consistent demand from low-income families. The FMR acts as a floor for rental prices, ensuring that landlords receive a guaranteed minimum income. This stability can lead to higher property values as the local economy improves and demand for affordable housing increases.
Furthermore, the lack of detailed data on renter share and median income underscores the need for landlords to focus on long-term strategies rather than short-term gains. By selecting properties in ZIP 92516 that align with the FMR and are well-maintained, landlords can position themselves for appreciation when the broader economic conditions improve. This approach also mitigates the risk of vacancy since Section 8 vouchers provide a reliable source of tenants.
To summarize, ZIP 92516 should be viewed as an appreciation play within a Section 8 portfolio strategy. The fixed monthly rent of $2090 ensures stable cash flow while the potential for property value appreciation remains strong. Landlords and small-portfolio investors should consider this ZIP code as part of their investment mix for its long-term growth prospects.
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.