Section 8 Fair Market Rent (FMR) for ZIP 85287 - 2027

FY 2027 Fair Market Rent Rates

The analysis of ZIP code 85287 within the Phoenix-Mesa-Chandler, AZ MSA reveals several critical points for landlords and small-portfolio investors.

Firstly, the rent math does not work effectively due to the lack of market rent data. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1880. Without comparative market rent figures, it's challenging to assess whether this rate aligns with what tenants are willing to pay in the current market conditions.

Secondly, the acquisition of properties in ZIP 85287 is unclear given the absence of key metrics such as median home value, days on market (DOM), and the percentage of homes requiring price cuts. These data points are essential for understanding the affordability and competitiveness of property purchases in the area.

Lastly, regarding tenant demand, there is insufficient information about the population size and the percentage of renters in ZIP 85287. Such details would provide insight into the potential pool of tenants and the likelihood of finding suitable occupants for rental properties.

In conclusion, while the FMR provides a baseline for rental pricing at $1880, the incomplete data concerning market rents, median home values, DOM, price-cut percentages, and demographic specifics make it difficult to form a comprehensive investment strategy for ZIP 85287. Investors should seek additional, detailed local market analysis before making any decisions.

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.