Location: Gila County, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,580 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
U.S. Census Bureau data (2024)
In ZIP 85264, the potential risks for a Section 8 landlord are significant. Tenant turnover is likely to be high due to the disparity between the market rent of $595 and the Federal Market Rent (FMR) of $2380 for FY 2024. This gap suggests that tenants might move out when they can afford higher rents, leading to frequent changes in occupancy.
Vacancy exposure is another concern. The days on market (DOM) for rental properties in this area is not available, which makes it difficult to predict how long a unit might remain vacant. However, given the high FMR compared to the market rent, there is a possibility that landlords may struggle to fill vacancies quickly, especially if they are not willing to accept lower rents.
The deferred maintenance exposure is also noteworthy. With a typical home value of $1,197,191 and a median income of $60,729, homeowners in this area may find it challenging to maintain their properties at a high standard, particularly when relying on the lower Section 8 payments. This could lead to increased maintenance costs and potential issues with property compliance.
Despite these risks, the high concentration of renters in ZIP 85264, comprising 11.1% of the total population, indicates a robust demand for rental housing. This high renter density often translates into a strong interest in Section 8 vouchers, which can help mitigate the risk of vacancy and ensure a steady stream of tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.