The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Riverside, CA 92505's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 92505 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,728 to a high of $2,112, with an average of $1,920.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,836, a maximum of $2,244, and an average of $2,040.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,286, peaking at a maximum of $2,794, and averaging at $2,540.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,078, a maximum of $3,762, and an average of $3,420.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,753 to a maximum of $4,587, with an average of $4,170.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Riverside, CA 92505 Low Rent (90%) $1,728 $1,836 $2,286 $3,078 $3,753
Average Rent $1,920 $2,040 $2,540 $3,420 $4,170
High Rent(110%) $2,112 $2,244 $2,794 $3,762 $4,587
2023 Riverside, CA 92505 Low Rent (90%) $1,485 $1,620 $2,034 $2,763 $3,393
Average Rent $1,650 $1,800 $2,260 $3,070 $3,770
High Rent (110%) $1,815 $1,980 $2,486 $3,377 $4,147
2022 Riverside, CA 92505 Low Rent (90%) $1,197 $1,359 $1,701 $2,331 $2,862
Average Rent $1,330 $1,510 $1,890 $2,590 $3,180
High Rent(110%) $1,463 $1,661 $2,079 $2,849 $3,498
2021 Riverside, CA 92505 Low Rent (90%) $1,035 $1,197 $1,503 $2,070 $2,565
Average Rent $1,150 $1,330 $1,670 $2,300 $2,850
High Rent (110%) $1,265 $1,463 $1,837 $2,530 $3,135
2020 Riverside, CA 92505 Low Rent (90%) $963 $1,125 $1,413 $1,962 $2,430
Average Rent $1,070 $1,250 $1,570 $2,180 $2,700
High Rent(110%) $1,177 $1,375 $1,727 $2,398 $2,970
2019 Riverside, CA 92505 Low Rent (90%) $909 $1,089 $1,359 $1,890 $2,349
Average Rent $1,010 $1,210 $1,510 $2,100 $2,610
High Rent (110%) $1,111 $1,331 $1,661 $2,310 $2,871


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