Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $240,489 | 0.71% | D |
| 3BR | $2,240 | $424,661 | 0.53% | F |
| 4BR | $2,490 | $531,114 | 0.47% | F |
| 5BR | $2,888 | $624,010 | 0.46% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 85202 in Mesa, Arizona, for fiscal year 2024 is set at $1800. This figure represents the maximum amount that a landlord can receive through the Section 8 program for a unit in this area. It's important to note that this is not the rent you should charge your tenants; rather, it's the benchmark used by the Housing Choice Voucher Program to determine the maximum subsidy payment.
In comparison, the Zillow Observed Rental Index (ZORI), which reflects the average rent price for properties in the same area, stands at $1342. This suggests that the average market rent is lower than the FMR, meaning that landlords participating in Section 8 could potentially receive higher payments compared to the typical rental rates in the area.
The 49.3% share of renters in the ZIP code indicates strong demand for rental housing. Over half of the residents in this area are already renting, which implies that there is a significant number of potential tenants who might be interested in Section 8 vouchers.
If you're looking to acquire a property in ZIP 85202, the median home value is approximately $397,361. This figure helps you understand the typical investment required to enter this market as a landlord.
Before proceeding with a Section 8 rental, verify that the property meets all the necessary housing quality standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards ensure that the rental units are safe, decent, and sanitary for tenants. Failure to meet these standards could result in penalties or disqualification from the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.