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 HUD Fair Market Rent (FMR) for ZIP 85060 in Phoenix-Mesa-Chandler County is set at $1,880 for fiscal year 2024. In comparison, the median rent in this ZIP code is $1,112, suggesting that voucher tenants would cashflow positively at the FMR rate. This indicates a strong potential for positive returns on investment properties.
The median home value in ZIP 85060 is $145,017. To derive the rent-to-price ratio, we can calculate the annual rent ($1,112 * 12 months) as $13,344 compared to the median home value of $145,017. This results in a rent-to-price ratio of approximately 9%, which is favorable for rental properties, especially those participating in the Section 8 program.
While specific data on the median days on market (DOM) and the percentage of price cuts are not available, the overall cost of living in ZIP 85060 is lower than the national average, at 59 out of 100. This can translate to higher disposable income for residents, making it easier for them to afford higher rents, even those covered by Section 8 vouchers.
The strongest angle for Section 8 investors in ZIP 85060 is cashflow. Given the disparity between the HUD FMR and the actual median rent, properties in this area can generate substantial positive cashflow when leased to voucher tenants, making it an attractive option for landlords and small-portfolio investors.
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.