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 85285, located within the Phoenix-Mesa-Chandler, AZ MSA, has a Fair Market Rent (FMR) of $1880 for fiscal year 2024. This figure is critical for understanding how this area compares to other ZIP codes within the same metro region. The FMR serves as a benchmark for rental costs and is particularly relevant for Section 8 landlords and small-portfolio investors.
In the Phoenix-Mesa-Chandler, AZ MSA, typical ZIP codes have an average FMR that is generally reflective of the overall cost of living and rental market conditions. However, with the market rent, home value, and renter share percentages being listed as N/A for ZIP 85285, we must rely on the FMR to make inferences about its market position. An FMR of $1880 suggests that 85285 could be a mid-tier neighborhood, as it aligns with the general trend observed in the metro's affordable housing segments.
The absence of specific market rent and home value data makes it challenging to definitively categorize 85285 as either a value pocket or a premium sub-market. However, given the FMR figure, it leans towards being a mid-tier neighborhood where rental properties can attract tenants through the Section 8 program without necessarily offering premium amenities or location advantages.
Additionally, the unknown percentage of renter share in 85285 means we cannot confirm if it represents a Section 8 sweet spot. Typically, a higher renter share with below-average home values signals a concentration of Section 8 eligible tenants, but without this data, such an inference remains speculative.
To provide a more comprehensive analysis, it would be necessary to obtain the missing data points, including market rent, home values, and the percentage of renter share. These details would help clarify the economic dynamics at play in ZIP 85285 and offer clearer guidance for investment strategies within the Phoenix-Mesa-Chandler, AZ MSA.
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.