Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 85147 within the Phoenix-Mesa-Chandler, AZ MSA reveals several key points that should guide investment decisions for landlords and small-portfolio investors.
First, regarding the rent math, the Family Monthly Rent (FMR) for FY 2024 stands at $2140. However, the absence of specific market rent data makes it challenging to directly compare these figures. This lack of comparison could indicate either a well-aligned FMR with the local market or an underdeveloped dataset for accurate market assessment.
Second, on the affordability of acquisitions, the median home value and days on market (DOM), along with the percentage of homes that experienced price cuts, are not provided. This missing information hinders a thorough evaluation of whether buying properties in this area is financially feasible. Investors would need to seek out additional data sources to make informed decisions about property purchases.
Third, concerning tenant demand, the ZIP code hosts a population of 4,911 individuals, with 29.8% being renters. This suggests a moderate level of demand for rental properties, although the overall population size indicates a smaller market compared to larger ZIP codes in the same metropolitan area.
In summary, while the FMR provides a clear benchmark for rental income expectations at $2140 per month, the lack of detailed market rent, median home value, DOM, and price cut percentages leaves significant gaps in assessing the feasibility of acquisitions and the strength of tenant demand. For ZIP 85147, investors must rely on the presence of a nearly 30% renter share among a modest population of 4,911 to gauge potential rental occupancy. To fully capitalize on this market, further research into local real estate trends and pricing is essential.
Data Sources: FMR data from HUD (2027). 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.