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 |
|---|---|---|---|---|
| 1BR | $1,080 | $130,871 | 0.83% | C |
| 2BR | $1,410 | $202,840 | 0.7% | D |
| 3BR | $1,950 | $284,719 | 0.68% | D |
U.S. Census Bureau data (2024)
Wofford Heights, located in ZIP code 93285, is a small residential neighborhood with a population of 2,920 residents. The area has a relatively low rental rate, with only 22.0% of the population being renters. This indicates a predominantly owner-occupied community where the median home value stands at $229,707. The median household income in the area is $40,275, suggesting a middle-class neighborhood.
From an investment perspective, the Federal Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1250. In contrast, the actual market rent, according to Census ACS data, is significantly lower at $911 per month. This discrepancy highlights a potential opportunity for Section 8 landlords and small-portfolio investors, as the FMR provides a subsidy that can cover the gap between the market rent and the FMR, ensuring a stable income stream.
The characteristics of Wofford Heights make it suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area's stable population and low percentage of renters mean that there is less turnover and a steady demand for subsidized housing. The FMR subsidy ensures that the rental income remains consistent, making it an attractive option for those looking for passive income.
For hands-on value-add buyers, the lower market rent compared to the FMR presents an opportunity to renovate properties and increase their market appeal while still benefiting from the higher subsidized rent. This strategy can lead to improved property values and a better tenant pool, which in turn can enhance the overall profitability of the investment.
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.