Location: Visalia, 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 | $1,090 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $290,493 | 0.49% | F |
| 3BR | $1,960 | $376,096 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 93238, located in Kernville, California, presents an interesting scenario when analyzing housing affordability from the renter's perspective. The median household income in this area stands at $49,950. This figure is crucial when considering the market rate for renting, which is reported at $1,691 per month according to the Census Bureau's American Community Survey (ACS).
To put this into context, a household earning the median income would be spending approximately 40% of their monthly income on rent at the market rate. This is significantly higher than the recommended guideline of 30%, indicating a substantial affordability gap for renters in Kernville.
Comparatively, the Federal Market Rent (FMR) for ZIP 93238, as set for fiscal year 2024, is at $1,100. This represents a considerable discount off the market rate, making it more feasible for households to cover their rent expenses while maintaining a balanced budget for other necessities.
In terms of competition among landlords, the data reveals that only 16.7% of the 887 residents in Kernville are renters. This low percentage suggests a limited pool of potential tenants, which could lead to increased competition among landlords who accept vouchers versus those who prefer cash-paying tenants.
The takeaway for landlords considering their strategy is clear: accepting voucher payments at the FMR can attract a steady stream of tenants but will also reduce rental income. Cash-paying tenants might offer higher returns, but the smaller number of renters and the affordability gap may make it challenging to fill vacancies without significant concessions. Landlords should carefully evaluate the local market conditions and their financial goals before deciding on a strategy.
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.