Location: Bakersfield-Delano, CA | Metro: Bakersfield-Delano, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,770 |
| 5 Bedrooms | $3,213 |
| 6 Bedrooms | $3,599 |
| 7 Bedrooms | $3,887 |
| 8 Bedrooms | $4,081 |
ZIP code 93387, located within the Bakersfield-Delano, CA MSA, has a Fair Market Rent (FMR) of $1260 for fiscal year 2024. This figure provides insight into the rental market dynamics compared to other ZIP codes in the same metropolitan statistical area.
In the Bakersfield-Delano, CA MSA, typical ZIP codes exhibit a range of market rents and home values that reflect the diverse economic landscape of the region. However, specific data on market rent and home values for ZIP 93387 are currently unavailable. The absence of these metrics suggests that 93387 could be considered a niche market within the broader context of the Bakersfield-Delano metro, possibly indicating limited housing stock or unique characteristics that set it apart from the norm.
The FMR of $1260 in ZIP 93387 is a critical benchmark for landlords and small-portfolio investors. It implies that the area is likely to attract tenants who qualify for Section 8 housing assistance, given that the FMR represents the maximum amount a Section 8 tenant can pay. If we consider the typical FMR for the Bakersfield-Delano, CA MSA, which is generally lower than urban centers but higher than rural areas, ZIP 93387's FMR could place it in a mid-tier position among local ZIP codes.
The unknown percentage of renters in ZIP 93387 further complicates its classification. Typically, a high renter share combined with below-average home values would indicate a favorable environment for Section 8 properties. However, without specific data on renter share and home values, such an inference cannot be made definitively. What can be concluded is that the area is suitable for Section 8 tenants based on the established FMR.
Landlords and small-portfolio investors should focus on the FMR as a reliable indicator of the rental market. Given the lack of additional data points, ZIP 93387 appears to be a value pocket within the Bakersfield-Delano, CA MSA, offering a stable income stream for those willing to cater to the needs of Section 8 tenants. This classification is supported by the reasonable FMR, suggesting a balance between affordability and market rates, making it attractive for both tenants and property owners.
Data Sources: FMR data from HUD (2027).
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.