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 | $1,430 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,600 |
| 5 Bedrooms | $3,016 |
| 6 Bedrooms | $3,378 |
| 7 Bedrooms | $3,648 |
| 8 Bedrooms | $3,830 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $252,387 | 0.71% | D |
| 3BR | $2,350 | $456,617 | 0.51% | F |
| 4BR | $2,600 | $621,627 | 0.42% | F |
| 5BR | $3,016 | $893,463 | 0.34% | F |
U.S. Census Bureau data (2024)
Mesa, Arizona's ZIP code 85213 is part of a diverse and thriving suburban area. With a population of 36,836, it is predominantly a residential zone where approximately 21.5% of residents are renters. The median household income in this ZIP code stands at $103,969, indicating a relatively affluent community. The median home value is notably high at $555,825, reflecting the established nature and desirability of the neighborhood.
The rental economics in ZIP 85213 are particularly interesting. According to the Fair Market Rent (FMR) data for the fiscal year 2024, the benchmark for rental units under the Section 8 program is set at $1,860. This contrasts sharply with the actual market rent, measured by ZORI (Zillow Observed Rent Index), which is currently at $1,486. This discrepancy suggests a significant opportunity for landlords participating in the Section 8 program, as they can potentially charge more than the typical market rate without facing the same level of competition.
Given these economic conditions, ZIP 85213 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means they can manage properties effectively with less need for active tenant screening or property improvements. Meanwhile, value-add buyers could leverage the gap between FMR and market rent to enhance their investment properties, thereby attracting tenants willing to pay closer to the FMR rates. This ZIP code offers a robust foundation for either strategy, ensuring steady cash flow for hands-off investors and ample room for profit maximization through strategic upgrades for those looking to actively manage their properties.
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.