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 |
The ZIP code 92878 in Corona, CA, offers a moderate yield for Section 8 real estate investments, given the Fair Market Rent (FMR) for fiscal year 2024 is set at $2090, while the market rent stands at $2,461. This indicates that landlords can potentially earn a higher rent than the FMR if they choose to operate outside the Section 8 program. However, the lack of available data on home values suggests that there might be limited opportunities for flipping properties in this area.
Regarding stability, the data is insufficient to provide a clear picture of the rental market dynamics in ZIP 92878. The absence of figures on the percentage of renters, days on market (DOM), and median household income makes it difficult to assess the financial health and reliability of potential tenants. This uncertainty means that the market cannot be confidently classified as either high-stability or low-stability based on the current information.
In summary, ZIP 92878 appears to offer a middle-ground scenario, where it is neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. The potential for higher-than-FMR rents exists, but the lack of detailed tenant and property data hinders a comprehensive analysis of long-term investment stability.
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.