Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
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 | $1,530 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,600 | $217,505 | 0.74% | D |
| 2BR | $1,990 | $321,409 | 0.62% | D |
| 3BR | $2,630 | $421,056 | 0.62% | D |
| 4BR | $3,170 | $515,973 | 0.61% | D |
| 5BR | $3,677 | $561,927 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 92543, located in Hemet, California, presents an interesting scenario for both tenants and landlords alike. The median household income stands at $49,396, while the market rate for rent, known as the Zillow Observed Rent Index (ZORI), is $1,892 per month. This means that a significant portion of a household’s annual income—approximately 47%—would be allocated towards rent at the market rate.
In contrast, the Fair Market Rent (FMR) for ZIP 92543, which is the standard used for Section 8 housing vouchers in fiscal year 2024, is set at $1,740 per month. This represents a more affordable option for renters, as it would require only around 42% of their annual income. However, the difference between the ZORI and FMR is substantial, indicating a notable affordability gap for renters in Hemet.
With 42.8% of the population renting and a total population of 39,937, there is considerable competition among landlords for tenants. The affordability gap suggests that many potential renters might struggle to find housing at the market rate, making them more likely to seek out subsidized options like Section 8 vouchers.
Landlords considering their rental strategy should take note of these figures. While accepting a voucher at $1,740 per month might seem less lucrative compared to the market rate of $1,892, it ensures a steady stream of income and reduces the risk of vacancy. Moreover, given the high percentage of renters and the affordability gap, vouchers can serve as a reliable means to attract tenants who might otherwise be priced out of the market.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic choice in ZIP 92543. It aligns with the financial realities faced by a large segment of the local population, potentially leading to higher occupancy rates and long-term stability. In a competitive rental market where affordability is a key concern, vouchers offer a viable solution that benefits both landlords and tenants.
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.