Section 8 Fair Market Rent (FMR) for ZIP 92817 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 92817, located in Riverside, California, is part of a dynamic housing market characterized by a mix of residential and commercial properties. The area offers a blend of suburban living with easy access to urban amenities, making it attractive for both homeowners and renters.

• Fair Market Rent (FMR) for 92817: As of the fiscal year 2024, the FMR for a two-bedroom apartment is set at $2780, providing a benchmark for rental pricing.
• Market Rent: Data on current market rents is currently unavailable, indicating a need for further investigation into local rental trends.
• Median Home Value: Specific figures on the median home value are also not available, suggesting that this area might be predominantly rental-focused or have limited recent sales data.
• Renter Share: The percentage of residents who are renters is unknown, which could impact the demand for rental properties.
• Days on Market (DOM): Information on the average days a property stays on the market before being rented is not provided, making it difficult to assess the speed of lease signings.
• Median Income: The median income for the area is currently unreported, which would be crucial for understanding the financial capacity of potential tenants.

Investors in ZIP 92817 should focus on the Fair Market Rent figure of $2780 for a two-bedroom unit as a starting point for setting competitive rental rates. However, the lack of current market rent data suggests that there may be opportunities to explore beyond the FMR, especially if local demand exceeds supply. The absence of median home value and renter share percentages indicates that the market may be heavily skewed towards rentals, but this requires confirmation through additional research. Landlords and investors must also be prepared to conduct thorough due diligence on tenant screening, given the unavailability of median income data, to ensure stable occupancy and timely rent payments. Overall, while the area presents opportunities, the gaps in key data points highlight the importance of staying informed about local real estate trends and conducting detailed market analyses.

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.