Section 8 Fair Market Rent (FMR) for ZIP 93255 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,030
1 Bedroom	$1,040
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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

470

Median Household Income

$24,583

Housing Units

291

Renter Percentage

44.9%

Occupancy Rate

73.5%

Renter Occupied

ZIP code 93255, located in Porterville, California, is characterized by a modest economic landscape where rental properties play a significant role in the housing market. This area offers opportunities for landlords and small-portfolio investors looking to tap into a market that is influenced by federal guidelines and local economic conditions.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 93255 for fiscal year 2024 is set at $1040.
The average market rent for properties in this ZIP code, according to the Census Bureau's American Community Survey (ACS), stands at $1,250 per month, indicating a slight premium over the FMR.
The median home value in ZIP 93255 is $252,459, which reflects the overall affordability of the region but also suggests limited room for appreciation compared to more affluent areas.
Renters make up a substantial portion of the housing market in this area, with a renter share of 44.9%, highlighting the demand for rental properties.
The median household income in ZIP 93255 is relatively low at $24,583, which could impact the ability of residents to afford higher rents or purchase homes, thus maintaining a steady need for affordable rentals.

In summary, ZIP 93255 presents a viable market for rental investments, particularly in affordable units. The gap between the Fair Market Rent and the actual market rent suggests potential for modest profit margins. However, the lower median income indicates a need to keep rental rates reasonable to ensure occupancy. The high renter share points to sustained demand for rental properties, making it a stable investment option for those willing to cater to the needs of the local population.

Data Sources: FMR data from HUD (2027). 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.