My rear end is at 16" from center of the wheel to bottom of fender flare. I remember reading that stock ride height on a 1992 Cherokee Sport(not Up-Country suspension) should be at 17" or 17.5".
I'm know that my 16" is lower than it should be but I'm not sure what it should be at. Any help?

From center of the wheel straight up to bottom of stock flair 17" rear 17.5" for the front.
Before i replaced my rear springs i lost about 1-1.5" from the springs setteling

Well, tonight I replaced what were obviously the origional rear shocks and gained 1/2" on my rear ride height. The leaf springs are sitting flat and then bending down a bit at the end bushings. Also, what were bump stops are no longer much of anything.
There is one thing that I can say about people who don't take care of their vehicles(like the guy I bought my Cherokee from), it's that they make it pretty fun for those of us who make their trash our treasure.