Location: Bakersfield-Delano, CA | Metro: Bakersfield-Delano, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,190 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
U.S. Census Bureau data (2024)
ZIP code 93224, located within the Bakersfield-Delano, CA MSA, presents a unique profile compared to typical ZIP codes in the same metropolitan area. The Fair Market Rent (FMR) for 93224 is set at $1,480 for fiscal year 2024, which is higher than the average market rent of $1,183. This indicates that 93224 is positioned as a slightly premium sub-market within the larger Bakersfield-Delano metro.
The absence of home value data for 93224 suggests that it might be an area primarily focused on rental properties rather than owner-occupied homes. This aligns with the high renter share of 35.8%, which is above the national average and likely above the typical share for ZIP codes within the Bakersfield-Delano MSA. A high renter share combined with below-metro home values can signal a Section 8 sweet spot, but since home values are not available for 93224, we cannot make a direct comparison.
However, the disparity between the FMR and the market rent suggests that there is a significant subsidy potential for landlords participating in the Section 8 program. With FMRs being higher than the actual market rents, landlords could benefit from the additional funds provided by the government without having to charge tenants more than the local market rates.
In summary, 93224 appears to be a premium sub-market within the Bakersfield-Delano MSA, characterized by higher FMRs and a substantial renter population. For landlords and small-portfolio investors, this ZIP code represents a favorable environment where the combination of government subsidies and a strong demand for rentals can lead to stable and potentially lucrative investment opportunities.
Data Sources: FMR data from HUD (2027). 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.