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 | $2,400 |
| 1 Bedroom | $2,550 |
| 2 Bedrooms | $3,150 |
| 3 Bedrooms | $4,150 |
| 4 Bedrooms | $5,000 |
| 5 Bedrooms | $5,800 |
| 6 Bedrooms | $6,496 |
| 7 Bedrooms | $7,016 |
| 8 Bedrooms | $7,367 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,150 | $663,335 | 0.47% | F |
| 3BR | $4,150 | $685,772 | 0.61% | D |
| 4BR | $5,000 | $799,068 | 0.63% | D |
| 5BR | $5,800 | $937,555 | 0.62% | D |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 92883, located in Corona, CA, reveal a market in motion where demand closely follows supply. With a Fair Market Rent (FMR) of $3020 for the fiscal year 2024 and a market rent (ZORI) of $3,266, it's clear that rental values slightly exceed what the government deems fair, suggesting a competitive market environment.
A price-cut share of just 0.2% indicates that few landlords are lowering their asking rents, which points towards a stable or slightly tightening rental market. The days on market (DOM) figure stands at 34 days, showing that properties are generally moving quickly once listed, a sign of active demand.
The median home value in ZIP 92883 is $761,441, reflecting the overall cost of homeownership in the area. This high median value suggests that the local economy supports a relatively affluent population, but it also implies that homeownership might be less accessible to lower-income residents, potentially increasing the reliance on rental housing.
The 16.9% renter share highlights a significant portion of the population choosing to rent rather than buy. This statistic is indicative of long-term housing pressure, as a higher percentage of renters can signal an ongoing need for rental units. It also suggests that there could be a steady demand for rentals, even if the market is currently balanced.
In summary, ZIP 92883 presents a market where supply and demand are finely tuned. Rental prices are competitive and homes are selling briskly, while the substantial renter share points to sustained pressure on the rental market. Landlords and small-portfolio investors should monitor these trends closely to make informed decisions.
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.