Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
The ZIP code 85267 is located in Scottsdale, Arizona, a city known for its upscale residential areas and luxury amenities. Specific demographic details such as the exact population, percentage of renters, median income, and median home value are currently unavailable for this precise ZIP code, making it challenging to paint a complete picture. However, given Scottsdale's reputation, it is safe to assume that 85267 likely contains high-end homes and a significant number of residents who might be inclined towards renting due to the transient nature of some of the city's demographics.
Transitioning to the economic aspect of rental properties, the Fair Market Rent (FMR) for ZIP code 85267 is set at $1880 for the fiscal year 2024. This figure serves as a benchmark for landlords and small-portfolio investors looking to understand the subsidized rental market dynamics. Unfortunately, detailed data regarding the current market rent for this ZIP code is not available, which suggests that the local rental market might not be extensively tracked or reported. This lack of comprehensive data could indicate either a stable market with less volatility or a niche market that does not attract widespread attention.
Considering the practical implications for investors, ZIP code 85267 appears to be more suited for hands-off voucher operators rather than hands-on value-add buyers. The presence of a defined FMR indicates that there is a demand for affordable housing within the area, even if it is at a higher price point than many other locations. For hands-off operators, the consistent flow of Section 8 vouchers can provide a reliable stream of income without the need for active property management or improvements. On the other hand, for value-add buyers seeking to renovate and increase property values, the absence of detailed market data and the upscale nature of Scottsdale might present challenges in identifying undervalued properties ripe for improvement.
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.