Section 8 Fair Market Rent (FMR) for ZIP 92517 - 2027
Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
FY 2027 Fair Market Rent Rates
| 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 |
To determine if you should buy in ZIP 92517 for Section 8 purposes, follow this decision tree:
- Does the Fair Market Rent (FMR) of $2090 cover debt service on a property?
- If the N/A represents a debt service amount that is less than $2090, then Yes. The FMR can cover your expenses.
- If the N/A is greater than $2090, then No. The FMR is insufficient to cover your debt service.
- Is the market rent above, at, or below the FMR?
- If market rent is above $2090, then it is higher than the FMR, which means It Depends. Higher market rents could indicate a stronger non-Section 8 rental market, but it also suggests that Section 8 tenants might struggle to afford the same housing outside of the program.
- If market rent is at or slightly below $2090, then Yes. This aligns well with the FMR, making Section 8 properties more attractive to both tenants and landlords.
- Are there enough renters and a reasonable days on market (DOM)?
- If the percentage of renters in the area is substantial and the DOM is low (indicating quick turnover), then Yes. There is sufficient demand for rental properties, including those that cater to Section 8 tenants.
- If the percentage of renters is low and the DOM is high, then No. Demand is weak, and properties may sit vacant longer than desirable.
- If the demand factors are mixed, then It Depends. Consider other factors such as property management costs and the ease of finding Section 8 tenants.
Note: Due to missing specific numerical data for ZIP 92517, the analysis relies on the principle of comparing FMR to debt service and market rent conditions. Ensure you gather detailed local market data to make an informed decision.
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.