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 | $1,080 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $218,958 | 0.64% | D |
| 3BR | $1,950 | $301,698 | 0.65% | D |
| 4BR | $2,360 | $362,915 | 0.65% | D |
| 5BR | $2,738 | $409,577 | 0.67% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 93280, Wasco, CA, stands at $51,388. Considering the market rate for rent is $1,093 according to the Census ACS, it becomes evident that housing costs represent a significant portion of the average household budget. Specifically, the monthly rent constitutes approximately 21% of the annual income.
Comparatively, the Fair Market Rent (FMR) for the area, set at $1,030 for fiscal year 2024, is slightly lower than the market rate but still places a considerable burden on residents. The FMR represents the maximum amount that a household receiving a Housing Choice Voucher (commonly known as Section 8) would pay, which is around 20% of the median income. This indicates that while voucher recipients face less financial strain, they still spend a notable portion of their income on housing.
With 42.4% of the 27,407 population being renters, the competition among landlords is moderate. However, the affordability gap between the market rate and the FMR suggests that many tenants may struggle to find suitable housing without assistance. Landlords must consider the balance between accepting vouchers and attracting cash-paying tenants.
The takeaway for landlords is clear: accepting vouchers can provide a steady stream of rental income, albeit at a lower rate than market rents. Given the financial constraints faced by many households, vouchers offer a reliable option for maintaining occupancy rates. Conversely, landlords who aim to attract cash-paying tenants must ensure their properties are competitively priced and well-maintained to appeal to those who might have the means to pay above the FMR.
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.