Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ 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 | $1,940 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,420 |
| 3 Bedrooms | $3,190 |
| 4 Bedrooms | $3,540 |
| 5 Bedrooms | $4,106 |
| 6 Bedrooms | $4,599 |
| 7 Bedrooms | $4,967 |
| 8 Bedrooms | $5,215 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,420 | $413,020 | 0.59% | F |
| 3BR | $3,190 | $540,068 | 0.59% | F |
| 4BR | $3,540 | $758,048 | 0.47% | F |
| 5BR | $4,106 | $1,140,745 | 0.36% | F |
U.S. Census Bureau data (2024)
ZIP code 85050 in Phoenix, AZ, has a population of 33,118, with 20.9% of residents being renters. The median household income stands at $139,836, which is notably high. This indicates that the area is not heavily reliant on rental housing, and thus, the demand for Section 8 vouchers is likely to be limited.
The typical market rent for the area is $2,421, which amounts to approximately 17.3% of the median household income. This suggests that most households can afford rent without assistance. However, the Fair Market Rent (FMR) set by HUD for FY 2024 is $2,720, indicating that the current market rent is slightly below the FMR threshold.
Given the relatively low percentage of renters and the high median income, landlords in ZIP 85050 should not expect a large influx of tenants seeking Section 8 vouchers. Instead, they will likely encounter a mix of tenants who can pay market rates and those who may require some form of financial assistance but not necessarily through the Section 8 program.
To summarize, while there is a rental market in ZIP 85050, it is not dominated by renters looking for subsidized housing. Landlords should prepare for a diverse tenant pool, with most tenants capable of paying the prevailing market rent without voucher support. The presence of Section 8 tenants would be minimal due to the limited demand and the higher income levels of the area's residents.
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.