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 analysis of ZIP code 85064 within the Phoenix-Mesa-Chandler, AZ MSA metro area reveals several key points regarding its viability for Section 8 real estate investment.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 85064 in fiscal year 2024 is set at $1880. However, without specific data on market rent, it's challenging to provide a direct comparison. If the market rent is below this figure, landlords may find it difficult to attract tenants willing to pay the higher Section 8 rates.
Moving on to the affordability of acquisitions, the median home value and days on market (DOM), along with the percentage of homes that require price cuts, are crucial indicators. Unfortunately, these figures are currently unavailable for ZIP 85064. Landlords should seek additional sources to determine if the cost of acquiring properties aligns with their investment strategies and if the real estate market is moving quickly enough to avoid extended periods of vacancy.
Tenant demand is another critical factor. With no specific population data or percentage of renters available for ZIP 85064, assessing the potential for finding tenants who qualify for Section 8 assistance is hampered. A higher renter share typically indicates greater demand for rental properties, which could be beneficial for landlords participating in the Section 8 program.
In conclusion, while the FMR of $1880 provides a clear benchmark for rental income in ZIP 85064, the lack of detailed market data—such as median home values, DOM, price-cut shares, population size, and renter percentages—makes it impossible to fully evaluate the feasibility of Section 8 investments here. Landlords and small-portfolio investors must rely on supplementary research to fill these gaps before making informed decisions about property acquisitions and rental strategies.
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.