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 | $1,340 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,420 | $650,253 | 0.37% | F |
U.S. Census Bureau data (2024)
To classify ZIP code 93531, we must consider both yield and stability factors. The yield potential is determined by comparing the Fair Market Rent (FMR) of $1330 for the fiscal year 2024 against the median home value of $631,222. Stability is assessed through the percentage of renters, the days on market (DOM), and the average household income of $164,318.
The FMR figure of $1330 indicates that rental properties in this area can generate a consistent monthly income. However, the median home value of $631,222 suggests that purchasing a property here would be a significant investment. Given these numbers, the yield is moderate; it does not offer the high returns typical of a flip-style market but also does not provide the steady cash flow seen in areas with lower home values and higher rent percentages.
On the stability axis, the data shows that there are currently 0.0% renters, which means the majority of residents in ZIP 93531 own their homes rather than renting. This lack of renters could make it challenging to find tenants for rental properties, thus reducing the stability of cash flow for landlords. The absence of a specific days on market (DOM) figure makes it difficult to assess how quickly rental units might be filled. However, the average household income of $164,318 provides some assurance that those who do choose to rent in this area have the financial capacity to pay higher rents.
In summary, ZIP 93531 leans towards being a low-yield/low-stability market due to the high median home value and the low percentage of renters. The income level supports higher rents, but the scarcity of renters and the lack of DOM data suggest challenges in maintaining consistent occupancy rates. Landlords and small-portfolio investors should carefully evaluate the risks and benefits before investing in this area.
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.