Section 8 Fair Market Rent (FMR) for ZIP 93241 - 2027

Location: Bakersfield-Delano, CA | Metro: Bakersfield-Delano, CA MSA

Investment Score for ZIP 93241

Monthly Rent (2BR)

$1,340

Median Price (2BR)

$189,760

1% Rule

0.71%

Annual Yield

8.47%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,020
1 Bedroom	$1,030
2 Bedrooms	$1,340
3 Bedrooms	$1,860
4 Bedrooms	$2,240
5 Bedrooms	$2,598
6 Bedrooms	$2,910
7 Bedrooms	$3,143
8 Bedrooms	$3,300

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,340	$189,760	0.71%	D
3BR	$1,860	$267,513	0.7%	D
4BR	$2,240	$318,135	0.7%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

15,250

Median Household Income

$33,417

Housing Units

4,646

Renter Percentage

56.6%

Occupancy Rate

93.2%

Renter Occupied

2,451

Lamont, California, located in ZIP code 93241, is a rural community that offers unique opportunities for real estate investment, particularly in the rental market. The area's characteristics, including its median home value and income levels, provide insight into the potential returns and challenges faced by investors.

The Fair Market Rent (FMR) for ZIP 93241 in fiscal year 2024 is set at $1030, indicating the government's benchmark for rental prices in the area.
Market rent, as reported by the Census American Community Survey (ACS), stands at $962, slightly below the FMR but still providing a competitive rate for landlords.
The median home value in Lamont is $245,449, which suggests that while homeownership is accessible, a significant portion of residents prefer renting.
Renters make up 56.6% of the housing market, highlighting the strong demand for rental properties in the area.
The median income in Lamont is $33,417, which is lower compared to many other areas, influencing the affordability of housing and the rental market.
While the exact number of days on the market (DOM) for rentals is not available, the high renter share and relatively low median income indicate a steady demand for affordable rental units.

Investors considering Lamont, CA, should focus on the robust rental market driven by a high renter share and a median income that supports affordable housing options. The gap between the market rent and FMR provides a margin for landlords to adjust their pricing, ensuring profitability. Given the median home value, investing in rental properties can be a more viable strategy than single-family homes, especially with the strong rental demand. However, the lower median income also implies that tenants might have limited budgets, necessitating a focus on cost-effective management and maintenance practices to keep rents attractive and affordable.

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.