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 |
ZIP code 85269 in Arizona lacks comprehensive demographic data, including population size, percentage of renters, and median household income. However, the absence of these figures does not preclude analysis of the potential for Section 8 tenants in the area.
The Fair Market Rent (FMR) for ZIP 85269, as set by HUD for fiscal year 2024, is $1880. This figure serves as a benchmark for evaluating the suitability of rental properties for Section 8 tenants. To determine whether this ZIP code supports a robust Section 8 tenant pool, it's essential to consider the local rental market dynamics.
Though specific income levels are not available, the FMR can be used to gauge the affordability of typical market rents relative to local incomes. In areas with limited economic data, it's often observed that rental costs align closely with the FMR. Therefore, if the market rent in 85269 approximates the FMR, landlords can reasonably expect that a significant portion of the renter population would rely on housing vouchers to afford living spaces.
A landlord in ZIP 85269 should anticipate a tenant pool heavily reliant on housing vouchers due to the likely alignment between market rents and the FMR. The typical rent, assuming it mirrors the FMR, would consume a substantial but manageable portion of the local income, given the nature of housing assistance programs designed to ensure affordable housing options.
To conclude, without detailed income and population data, the analysis leans on the FMR as a critical indicator. Landlords in 85269 can expect a tenant base that includes many voucher holders, with the FMR of $1880 guiding the upper limit for rent to remain within the scope of housing assistance coverage. This suggests a market where Section 8 vouchers play a pivotal role in enabling access to housing, making it suitable for landlords willing to participate in the program.
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.