Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Bakersfield-Delano, 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 | $1,410 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,560 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,470 | $200,992 | 0.73% | D |
| 2BR | $1,850 | $273,678 | 0.68% | D |
| 3BR | $2,560 | $361,243 | 0.71% | D |
| 4BR | $3,080 | $448,164 | 0.69% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 93225, which encompasses Frazier Park, CA, within Kern County and the Oxnard-Thousand Oaks-Ventura, CA MSA, reveals a favorable environment for rental properties. The HUD Fair Market Rent (FMR) for ZIP 93225 in fiscal year 2024 is set at $2,190, while the Census American Community Survey (ACS) reports an average market rent of $1,648. This indicates that voucher tenants will generally cashflow at the FMR rate, providing landlords with a significant buffer above the local market rates.
To further contextualize this, the median home value in ZIP 93225 is $325,892. Using the reported market rent, we can calculate a rent-to-price ratio of approximately 0.5%, suggesting that owning a property here is more economically viable than renting. However, for those interested in rental investments, the disparity between the HUD FMR and the actual market rent means that landlords can expect to see positive cash flow without needing to rely on premium units. In fact, even standard units should perform well under the voucher program.
The data shows that there is limited information regarding the median days on market (DOM) and the percentage of homes requiring price cuts, both being listed as N/A and 0.1% respectively. While these figures do not directly impact the decision-making process for rental investors, they suggest a stable housing market with little fluctuation in sales prices, which could contribute to overall stability in the area.
In conclusion, the strongest angle for investors in ZIP 93225 is cashflow. Given the higher HUD FMR compared to the local market rent, landlords can expect to generate substantial positive cash flow from Section 8 voucher tenants, making it an attractive option for those looking to secure steady rental income.
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.