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 | $202,863 | 1.69% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 93523 is a renter-heavy area, with 79.9% of its population renting their homes. This high percentage indicates a strong potential for Section 8 tenants, who rely on housing vouchers to find affordable rental properties. The median household income in this ZIP is $70,227, which provides a baseline for understanding the economic context of the area.
The market rent in ZIP 93523 is currently set at $2,288 per month. This amount represents approximately 38.3% of the median monthly income when calculated from the annual median household income ($70,227 / 12 = $5,852). This suggests that the typical rent eats up a significant portion of local residents' income, making it challenging for many to afford housing without assistance.
In comparison, the Fair Market Rent (FMR) for ZIP 93523 in fiscal year 2024 is set at $1,890. This figure is lower than the market rent, indicating that landlords may need to be flexible with pricing to attract Section 8 tenants. The difference between the market rent and the FMR highlights the affordability gap faced by low-income renters in this area.
A landlord in ZIP 93523 should expect tenants who are likely to be heavily reliant on housing vouchers to cover their rent. These tenants will have an income level that typically does not exceed 50% of the area's median income, as required by the Section 8 program. Given the high rent-to-income ratio, these tenants will require the voucher to make up the shortfall between their income and the cost of rent.
The deep voucher demand in this area means that landlords could benefit from participating in the Section 8 program, given the high proportion of renters and the limited number of affordable units available. However, they must be prepared to offer rents that align closer to the FMR to remain competitive and attractive to voucher holders.
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.