Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
The ZIP code 85010 is located in Phoenix, Arizona. Due to the nature of the ZIP code being primarily for post office boxes, specific demographic data such as population, percentage of renters, median income, and median home value are not available. However, focusing on the economic aspects relevant to Section 8 investors, the Fair Market Rent (FMR) for ZIP code 85010 in fiscal year 2024 is set at $1880.
While precise market rent figures for 85010 cannot be determined, the FMR serves as a benchmark for rental pricing in the area. The FMR is based on HUD's assessment of typical rental costs and ensures that landlords receive fair compensation for their properties under the Section 8 program.
Given the lack of detailed demographic data, it is challenging to determine whether this ZIP code is better suited for hands-off voucher operators or hands-on value-add buyers. However, the consistent demand for affordable housing in Phoenix suggests that properties in 85010 can attract tenants through the Section 8 program. Landlords should consider the local market conditions and the potential for property management challenges when deciding whether to operate hands-off or pursue a more active role in managing and improving their investments.
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.