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 85063 is located in Phoenix, Arizona, within Maricopa County. It has been classified as a PO Box ZIP code, which means it is primarily used for post office boxes rather than residential addresses. As a result, detailed demographic data such as population, percentage of renters, median income, and median home value are not available.
Moving into the economic aspects, the Fair Market Rent (FMR) for ZIP code 85063 is set at $1880 for fiscal year 2024. Without specific market rent data for the area, we can infer that the FMR serves as a benchmark for affordable housing standards.
Given the lack of comprehensive demographic data and the nature of the ZIP code being geared towards commercial use, it would be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. Landlords and small-portfolio investors should focus on the stability provided by the Section 8 program, given the limited residential context.
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.