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 | $1,890 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,430 |
| 4 Bedrooms | $4,150 |
| 5 Bedrooms | $4,814 |
| 6 Bedrooms | $5,392 |
| 7 Bedrooms | $5,823 |
| 8 Bedrooms | $6,114 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,430 | $494,664 | 0.69% | D |
| 4BR | $4,150 | $596,106 | 0.7% | D |
| 5BR | $4,814 | $713,097 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP code 93314, with a population of 35,407, has 15.7% of its residents as renters. This indicates that it is not a renter-heavy ZIP but rather a homeowner-dominated area. The median household income stands at $126,250, which suggests a relatively high-income demographic.
The market rent for the area is $2,189. To put this into perspective, typical rent consumes approximately 17.3% of the local median income. This calculation is derived from dividing the market rent ($2,189) by the median household income ($126,250), then multiplying by 100. While this percentage is not excessively high, it still represents a significant portion of the average household's income.
The Fair Market Rent (FMR) for ZIP 93314, as determined by HUD for FY 2024, is set at $1,880. This means that the market rent exceeds the FMR by $309, indicating that landlords may face challenges in attracting tenants who rely solely on Section 8 vouchers. The gap between the FMR and the market rent implies that vouchers alone will not cover the full cost of renting in this area, thus reducing the potential tenant pool for those who strictly adhere to the voucher amount.
A landlord in ZIP 93314 can expect tenants who either have higher incomes or supplement their voucher with additional funds. The scarcity of pure voucher-based tenants means that landlords should consider offering properties that cater to a slightly more affluent renter, possibly those willing to pay above the FMR but still seeking assistance through vouchers. Landlords might also want to explore alternative rental assistance programs or flexible payment plans to accommodate a broader range of tenants.
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.