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 85069 within the Phoenix-Mesa-Chandler, AZ MSA metro area reveals several key points for landlords and small-portfolio investors.
First, regarding the rent math, the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1880. However, the lack of available data on market rent means we cannot directly compare it to FMR. This absence of market rent data complicates the assessment of whether the rent math works effectively in this area.
Second, on the issue of acquisition affordability, the data presents a challenge due to the unavailability of median home values, days on market (DOM), and the percentage of homes that have been listed with price cuts. Without these figures, it's impossible to provide a definitive statement on the cost-effectiveness of acquiring properties in ZIP 85069.
Third, concerning tenant demand, the data does not specify the population or the percentage of renters in ZIP 85069. These metrics are crucial for understanding the potential occupancy rates and the stability of rental income in the area.
Verdict: The analysis of ZIP 85069 is limited by the absence of critical data points such as market rent, median home value, days on market, percentage of price-cut listings, population, and renter share. With only the FMR figure of $1880 for fiscal year 2024, landlords and small-portfolio investors can set a baseline for their rental pricing but must seek additional local market insights to fully assess the viability of investing in this zip code. The incomplete dataset suggests caution in making investment decisions without further research into current market conditions and tenant demographics.
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.