Section 8 Fair Market Rent (FMR) for ZIP 85079 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 85079 in Unknown, Arizona, presents a market in motion, characterized by a Fixed Monthly Rent (FMR) set at $1880 for fiscal year 2024. This figure indicates the government's assessment of rental affordability in the area, reflecting the economic realities faced by tenants.

Despite the FMR being established, the current market rent for the area is not available, suggesting a potential gap between government-set standards and actual rental prices. This absence of market rent data could imply either a lack of reporting or an emerging market that has yet to stabilize, making it difficult to gauge the exact relationship between supply and demand without additional context.

The percentage of price-cut share and the number of days on market (DOM) are also not provided, which typically would give insights into how aggressively landlords are competing for tenants and how quickly properties are renting. The lack of these metrics means we cannot definitively state whether supply is outpacing demand or vice versa. However, the absence of such competitive indicators might suggest a relatively balanced market, where neither landlords nor tenants have significant leverage over the other.

A median home value is not specified for ZIP 85079, indicating a possible young or developing neighborhood where homeownership might be less prevalent. This absence of a median home value can be indicative of a market where rentals play a more prominent role in accommodating residents, which could contribute to long-term housing pressure if the trend towards renting continues.

The percentage of renters in the area is also not given, but in markets with high renter shares, there tends to be increased long-term housing pressure due to limited affordable housing options. In ZIP 85079, the unknown percentage of renters suggests that understanding the local housing dynamics requires further investigation into the local economy, job growth, and population trends.

In summary, ZIP 85079 appears to be a dynamic market with a fixed benchmark for rental costs but lacking in current market data that would provide a clearer picture of the supply-demand balance. The absence of a median home value points toward a rental-heavy environment, which could indicate ongoing housing pressure as the area develops.

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.