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 |
ZIP code 85046, located within the Phoenix-Mesa-Chandler, AZ MSA, stands out due to its specific characteristics compared to other ZIP codes in the same metropolitan area. The Fair Market Rent (FMR) for ZIP 85046 is set at $1880 for fiscal year 2024. This figure is lower than the average FMR for the Phoenix-Mesa-Chandler MSA, which typically ranges higher, indicating that 85046 could be considered a value pocket within the broader metro.
While the market rent and home values for ZIP 85046 are currently unavailable, the lack of data on these points suggests that the area might not be as developed or as highly sought after as some other parts of the Phoenix-Mesa-Chandler MSA. However, the lower FMR can be advantageous for landlords and small-portfolio investors looking to attract tenants who qualify for Section 8 housing assistance, as it means they can offer more affordable rental options without necessarily compromising on profitability.
The absence of data on the percentage of renters also makes it challenging to draw definitive conclusions about the proportion of residents who might rely on Section 8 vouchers. Nevertheless, if we infer based on the low FMR, it's plausible that 85046 has a significant number of potential Section 8 tenants, making it an attractive location for those interested in participating in the program.
In summary, ZIP 85046 appears to be a value pocket within the Phoenix-Mesa-Chandler, AZ MSA. Its lower FMR compared to the metro average can serve as a strategic advantage for landlords and investors aiming to cater to a cost-sensitive tenant base, including those eligible for Section 8 assistance. Despite the limited availability of market rent and home value data, the area's affordability suggests it could be particularly appealing for those focused on maximizing returns through government-subsidized rental programs.
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.