Location: Riverside-San Bernardino-Ontario, CA | Metro: Riverside-San Bernardino-Ontario, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,900 |
| 1 Bedroom | $2,020 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,950 |
| 5 Bedrooms | $4,582 |
| 6 Bedrooms | $5,132 |
| 7 Bedrooms | $5,543 |
| 8 Bedrooms | $5,820 |
U.S. Census Bureau data (2024)
ZIP code 92595, located in Wildomar, CA, falls within the Riverside-San Bernardino-Ontario, CA Metropolitan Statistical Area (MSA). The Fair Market Rent (FMR) for ZIP 92595 in fiscal year 2024 is set at $2,370, while the average market rent stands at $2,635. This indicates that the actual market rents slightly exceed the FMR, suggesting a slight premium on rental properties in this area.
The median home value in ZIP 92595 is $655,688. In comparison to the typical ZIP codes within the Riverside-San Bernardino-Ontario MSA, where home values can range widely but often average around $300,000 to $400,000, Wildomar's home value is notably higher. However, it still remains below the premium sub-markets within the same MSA, which might see home values upwards of $700,000 or more.
The renter share in ZIP 92595 is 21.0%, which is a significant portion of the housing market. Generally, within the Riverside-San Bernardino-Ontario MSA, the renter share tends to be higher in urban areas and lower in suburban regions. Given that Wildomar is a suburban area, its 21.0% renter share could be considered relatively high, potentially indicating a concentration of renters who may benefit from Section 8 assistance.
Considering the specific figures, ZIP 92595 appears to be a mid-tier neighborhood within its metro. It has higher-than-average home values and market rents, yet the FMR suggests that there is still government support available for renters. The high renter share combined with below-metro average home values could signal a favorable environment for Section 8 tenants and thus present an opportunity for landlords looking to tap into this market segment.
Landlords and small-portfolio investors should take note of these characteristics when evaluating potential investments in Wildomar. The slightly elevated market rents and higher home values suggest a steady demand for housing, while the significant renter share provides a solid base of potential Section 8 tenants.
Data Sources: FMR data from HUD (2027). 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.