Location: Bakersfield-Delano, CA | Metro: Bakersfield-Delano, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
U.S. Census Bureau data (2024)
The ZIP code 93519 presents an interesting scenario for both renters and landlords alike. Given the lack of specific median income data, it's crucial to focus on the voucher payment standard and the market rate to assess affordability.
The Fair Market Rent (FMR) for ZIP 93519 in fiscal year 2024 is set at $1060. This figure represents the maximum amount that a Housing Choice Voucher holder would be able to pay for rent. However, without a specified market rate, it's challenging to provide a direct comparison. Nonetheless, understanding the voucher payment standard is key for landlords when considering their rental pricing strategy.
With 100.0% of the population being renters, competition among landlords is fierce. The affordability gap, which is the difference between the FMR and the actual market rate, can significantly impact the number of potential tenants who can afford to live in the area. If the market rate exceeds the FMR, landlords will have fewer options for cash-paying tenants and must rely more heavily on voucher holders.
The takeaway for landlords is clear: given the high percentage of renters and the limited income data, focusing on accepting Housing Choice Vouchers can be a strategic move. It ensures a steady stream of tenants willing to pay up to $1060 per month, which aligns with the FMR. Landlords should also consider setting competitive rates below or around the FMR to attract both voucher holders and cash-paying tenants, thereby maximizing occupancy and reducing vacancy rates.
Data Sources: FMR data from HUD (2027). 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.