Section 8 Fair Market Rent (FMR) for ZIP 85119 - 2027

Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA

Investment Score for ZIP 85119

Monthly Rent (2BR)

$1,390

Median Price (2BR)

$305,687

1% Rule

0.45%

Annual Yield

5.46%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,110
1 Bedroom	$1,200
2 Bedrooms	$1,390
3 Bedrooms	$1,870
4 Bedrooms	$2,120
5 Bedrooms	$2,459
6 Bedrooms	$2,754
7 Bedrooms	$2,974
8 Bedrooms	$3,123

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,390	$305,687	0.45%	F
3BR	$1,870	$416,002	0.45%	F
4BR	$2,120	$537,545	0.39%	F
5BR	$2,459	$808,219	0.3%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

25,420

Median Household Income

$71,585

Housing Units

13,692

Renter Percentage

20.1%

Occupancy Rate

80.3%

Renter Occupied

2,210

The ZIP code 85119, located in Apache Junction, Arizona, is a growing suburban area that offers both residential and commercial opportunities. Nestled in the eastern part of the Phoenix metropolitan area, it benefits from the region's economic vitality while maintaining a smaller-town feel.

The Fair Market Rent (FMR) for 85119 is set at $1,570 per month for the fiscal year 2024, providing a benchmark for rental pricing.
The market rent, as indicated by Zillow's ZORI (Zillow Observed Rent Index), stands at $1,681, slightly above the FMR, reflecting strong demand for rental properties in the area.
The median home value in 85119 is $398,021, which is a significant indicator of the overall property values in the region.
Renters make up 20.1% of the housing market, suggesting a moderate but steady demand for rental units.
The Days on Market (DOM) for rental listings is 38 days, indicating a relatively quick turnover for rental properties.
The median household income in the area is $71,585, providing insight into the economic capacity of potential tenants.

Investors looking to enter the Apache Junction market can expect a balanced opportunity. With rental prices slightly exceeding the FMR and a moderate renter share, there is a stable demand for rental properties. The quick DOM suggests that properties will not remain vacant for long periods, and the median income supports the ability of residents to meet rent obligations. Given these factors, investing in rental properties in 85119 presents a solid opportunity for steady returns.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).

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.