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 | $1,850 |
| 1 Bedroom | $1,860 |
| 2 Bedrooms | $2,420 |
| 3 Bedrooms | $3,350 |
| 4 Bedrooms | $4,040 |
| 5 Bedrooms | $4,686 |
| 6 Bedrooms | $5,248 |
| 7 Bedrooms | $5,668 |
| 8 Bedrooms | $5,951 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,420 | $278,287 | 0.87% | C |
| 3BR | $3,350 | $381,510 | 0.88% | C |
| 4BR | $4,040 | $439,939 | 0.92% | C |
| 5BR | $4,686 | $509,062 | 0.92% | C |
U.S. Census Bureau data (2024)
ZIP code 93313 in Southwest Bakersfield is characterized by its family-friendly, suburban atmosphere and newer housing stock, largely developed within the last two decades. The area is defined by master-planned communities and convenient access to retail corridors, with the California State University, Bakersfield campus serving as a major local institution that provides employment and drives consistent demand for nearby housing. This neighborhood is generally regarded as a safe, stable environment with well-maintained public parks and infrastructure appealing to long-term residents.
From a financial perspective, the spread between subsidized and market rates creates a challenging scenario for landlords. The FY2026 Fair Market Rent for a 2-bedroom unit sits at $2,220, which falls notably below the current market rent of $2,335, leaving a gap of $115 per month. Investors face an entry cost reflected by a median home value of $414,918 and a median sale price of $277,203 for 2-bedroom properties, which typically turn over in roughly 48 days. Because the voucher maximum is lower than the market rate, voucher tenants do not cash-flow relative to standard market tenants unless landlords negotiate tenant-paid utilities to bridge the difference.
The tenant pool is relatively affluent compared to county averages, boasting a median household income of $91,943. This higher income baseline, paired with a low renter share of just 21.4%, suggests that the local population predominantly consists of homeowners rather than renters. Families are drawn to the area for access to top-rated schools within the Kern High School District and the Panama-Buena Vista Union School District, as well as easy proximity to major arteries like the Westside Parkway. These amenities support strong stability, but they also mean competition for rentals comes from high-income earners who can easily outbid a voucher.
The Section 8 verdict for 93313 leans toward stability and appreciation rather than immediate cash flow. The premium median home values and rapid 48-day turnover indicate a high-demand market where property appreciation is likely. However, the $115 gap between market rent and the 2BR FMR means accepting a voucher results in a discount. The strongest investor angle here is betting on long-term asset growth in a desirable suburb, using the Housing Authority guarantee to ensure consistent occupancy even if the monthly yield is slightly capped.
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.