OBDII was federally-mandated for 1996. That's the one that is universal across all makes and models of gasoline vehicles in the US ever since, and you can buy a $15 bluetooth dongle to read codes and live data from your phone, or use a ScanGauge, or hundreds of other options.
Some Subarus (I think all 2.2s) were OBDII compatible in 1995.
But yea, vehicles before that still had On Board Diagnostics (OBD), and the ability to store and pull Diagnostic Trouble Codes (DTCs), and even read live data with the right reader (not universal).
All things being equal, OBDII is great. But we're talking about 25 year old cars, now. So a 1994 that's been well maintained will be a much better buy than a 1996 that's been neglected.