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Riverside County/Menifee/92584

92584

ZIPSAFMR
Riverside County, CA
Zillow

ZIP Investment Score

97Above average

095130300
BRFMR
Eff. Rent
0 BR$2,110$2,310
1 BR$2,240$2,360
2 BR$2,760$2,920
3 BR$3,640$3,310
4 BR$4,380$3,700
5 BR$5,037Not available
6 BR$5,793Not available
7 BR$6,661Not available
8 BR$7,661Not available

Purchase Price Calculator

Maximum purchase price
$371,994

Cost breakdown

+Likely effective rent$2,920
HUD FMR$2,760
Market rent$3,000
Est. payment standard (106%)Used$2,920
-Principal and interest-$1,881
Loan amount$297,595
Down payment$74,399
Rate6.50%
Term30 years
-Operating costs-$839
Property taxes-$372
Insurance-$175
Utilities$0
HOA$0
Management-$292
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$46,465(62.5% ROI)
Projected value
$400,597
Return breakdown
Property appreciation+$28,603
Loan principal paid down+$10,662
Rental cash flow+$7,200
5-year hold
+$79,897(107.4% ROI)
Projected value
$420,877
Return breakdown
Property appreciation+$48,883
Loan principal paid down+$19,013
Rental cash flow+$12,000
10-year hold
+$173,495(233.2% ROI)
Projected value
$476,184
Return breakdown
Property appreciation+$104,190
Loan principal paid down+$45,306
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.93
2 BR
0.92
3 BR
1.10
4 BR
1.18
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 92584 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 92584 (Menifee, CA) is $2,760 a month. That is down 8.0% from $3,000 in FY 2026. Menifee is in the Riverside-San Bernardino-Ontario, CA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,103. Among 95 ZIP codes in Riverside County, 92584 has the 11th-highest two-bedroom rent (county range $1,670–$3,150). The median county two-bedroom FMR in California is $1,725, so ZIP 92584 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 92584
BedroomsFY 2027Change90–110% range
Studio$2,110−8.7%$1,899–$2,321
1BR$2,240−7.4%$2,016–$2,464
2BR$2,760−8.0%$2,484–$3,036
3BR$3,640−8.3%$3,276–$4,004
4BR$4,380−8.6%$3,942–$4,818

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 92584
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,110$2,240$2,760$3,640$4,380
FY 2026$2,310$2,420$3,000$3,970$4,790
FY 2025$2,500$2,610$3,250$4,340$5,280
FY 2024$2,170$2,310$2,880$3,880$4,730
FY 2023$1,820$1,990$2,490$3,380$4,160

Two-bedroom rent in nearby Riverside County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 92584
92581$2,170−21.4%
92582$3,070+11.2%
92583$1,990−27.9%
92584Current$2,760—
92585$2,610−5.4%
92586$1,990−27.9%
92587$2,560−7.2%
92589$2,170−21.4%
92590$1,670−39.5%
92591$2,610−5.4%
92592$2,980+8.0%
92593$2,170−21.4%

Questions about ZIP 92584 rents

How much will Section 8 pay for a two-bedroom in ZIP 92584?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,103, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,893 to $2,313 a month; under the ZIP-level Small Area FMR of $2,760 it would be $2,484 to $3,036. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 92584 in?

ZIP 92584 is in the Riverside-San Bernardino-Ontario, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,103.

How much did fair market rent change in ZIP 92584 for FY 2027?

The two-bedroom FMR fell 8.0%, from $3,000 in FY 2026 to $2,760 in FY 2027. Since FY 2023 it has risen 10.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMenifee, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources