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 |
The ZIP code 93390 in Bakersfield, CA, offers a moderate yield and stability for real estate investments, particularly in the context of Section 8 housing. The Fair Market Rent (FMR) for ZIP 93390 in fiscal year 2024 is set at $1260. This figure is crucial for understanding potential rental income from properties in this area.
Recent sales data indicate that homes in 93390 are selling close to their list price, with minimal overage. For instance, a property at 1704 Anita Ln sold for $315,000, just $100 over the list price, with 34 days on the market. Another property at 812 S Brown sold for $300,000, also very close to the list price, but took 83 days to sell. These examples suggest that while there might be opportunities for quick flips, the market is not consistently high-yield due to varying days on market.
The lack of specific figures for market value and home values makes it challenging to fully assess the yield potential. However, given the FMR and recent sales prices, it is reasonable to conclude that 93390 offers a steady cash flow rather than high-yield returns typical of speculative markets. The absence of data on the percentage of renters, average days on market (DOM), and median income further complicates the stability assessment. Nonetheless, the consistent sale prices and relatively low DOM for some listings suggest a stable market, though not without occasional fluctuations.
In summary, ZIP 93390 leans towards being a steady-cashflow zone, driven by the established FMR and recent sales data indicating close adherence to list prices. It is not a high-yield/low-stability flip-style market, nor does it exhibit characteristics of a highly volatile market. The specific figures point towards a balanced investment opportunity, suitable for landlords and small-portfolio investors seeking reliable, long-term rental income.
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.