Location: Bakersfield-Delano, 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 | $1,120 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,120 | $98,473 | 1.14% | B |
| 2BR | $1,460 | $173,215 | 0.84% | C |
| 3BR | $2,020 | $261,392 | 0.77% | D |
| 4BR | $2,440 | $360,067 | 0.68% | D |
U.S. Census Bureau data (2024)
Kern County's ZIP code 93240, Lake Isabella, stands out with a population of 5,981 residents, where 33.3% rent their homes. The median household income here is $31,267, and the median home value is $221,630. These figures paint a picture of a community that is both affordable and modest in size.
The economic landscape for Section 8 vouchers in Lake Isabella is favorable. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,110 per month. In contrast, the market rent, as reported by the Census Bureau's American Community Survey (ACS), averages $1,158. This indicates that landlords accepting Section 8 vouchers can expect rents slightly below the market rate, but still within a reasonable range. The difference between the FMR and market rent is minimal, suggesting that the program remains competitive for tenants seeking affordable housing options.
Based on the data, Lake Isabella's real estate market appears stable. There are no significant indicators pointing towards rapid changes or transitions. The modest gap between the FMR and market rent suggests a balanced environment where both landlords and tenants can find suitable arrangements. For small-portfolio investors and landlords, Lake Isabella offers a steady investment climate with clear economic parameters.
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.