Location: Los Angeles-Long Beach-Glendale, 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 | $1,570 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,260 |
| 5 Bedrooms | $3,782 |
| 6 Bedrooms | $4,236 |
| 7 Bedrooms | $4,575 |
| 8 Bedrooms | $4,804 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,800 | $390,782 | 0.72% | D |
U.S. Census Bureau data (2024)
27.2% of residents in ZIP 93243 are renters, indicating a significant portion of the population relies on rental housing. However, the market rent data for this area is currently unavailable, which means we must rely on other indicators to assess the rental landscape. The Fair Market Rent (FMR) for ZIP 93243 is set at $2000 for zip FY 2024, providing a benchmark for rental costs that landlords should consider when setting their rates. This figure is crucial for Section 8 landlords as it defines the maximum allowable rent for subsidized units.
$382,944 is the median home value in ZIP 93243, offering insight into the overall housing market's health. While this figure does not directly impact rental properties, it can influence the attractiveness of the area to potential tenants and the competition between homeowners and renters.
The absence of median income data makes it challenging to assess the financial stability of the local tenant pool. Without this information, landlords must rely on the FMR and median home value to gauge affordability. Additionally, the Days on Market (DOM) and price-cut share percentages are also unavailable, leaving us without key metrics on how quickly properties are renting and whether there is significant negotiation on rents.
In summary, landlords in ZIP 93243 should adhere to the $2000 FMR to remain competitive and ensure compliance with Section 8 requirements. The high median home value suggests a potentially strong demand for rental properties, but the lack of detailed income and market performance data necessitates a cautious approach. Given the available data, ZIP 93243 presents a moderate opportunity for Section 8 landlords, contingent upon understanding local market dynamics and tenant needs.
Verdict: Moderate opportunity for Section 8 landlords, with adherence to $2000 FMR critical.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.