Section 8 Fair Market Rent (FMR) for ZIP 85178 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 85178 in Arizona for fiscal year 2024 is set at $1780. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the rent you'll receive; it's the benchmark used to determine the rent subsidy.

In ZIP 85178, the local median rent is currently unavailable, which makes comparing the FMR directly to market rates challenging. However, the FMR serves as a guideline to ensure that rents are reasonable and reflective of the area's housing costs.

The percentage of renters in the area who might benefit from the Section 8 program is also not available. Nonetheless, this statistic would typically indicate the potential demand for subsidized housing. If the renter share were high, it could suggest a strong interest in Section 8 properties among residents.

The acquisition cost, or the price at which you might purchase a property suitable for Section 8 tenants, is also listed as N/A. This value would be crucial for understanding the initial investment required to enter the Section 8 market in this ZIP code.

Before deciding to take on your first Section 8 rental in ZIP 85178, verify that the property meets all necessary housing quality standards. The Housing Quality Standards (HQS) are set by the U.S. Department of Housing and Urban Development (HUD) and must be satisfied to qualify for the program. These standards cover everything from structural integrity to safety features, ensuring that the home is livable and up to code.

Summary:

• The FMR of $1780 sets the ceiling for rent charges under the Section 8 program.
• Local median rent is not available, but the FMR provides a reference point for reasonable pricing.
• The percentage of renters eligible for Section 8 and the typical acquisition cost for properties are both unknown, making it harder to predict demand and initial investment needs.
• To proceed, ensure the property meets HUD’s Housing Quality Standards.

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.