Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $306,870 | 0.66% | D |
| 3BR | $2,660 | $416,464 | 0.64% | D |
| 4BR | $2,960 | $494,253 | 0.6% | F |
| 5BR | $3,434 | $607,581 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 85305 in Glendale, Arizona, stands out within Maricopa County due to its unique demographic and economic profile. With a population of 18,043 residents, it has a significant rental market, with 49.5% of the population renting their homes. The median income here is $88,167, which is notably higher than the national average, indicating a relatively affluent community. However, the median home value of $465,079 suggests that homeownership remains a substantial investment, likely contributing to the strong rental demand.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $2,120. This is significantly above the market rent, as indicated by the Zillow Observed Rent Index (ZORI), which is currently at $1,647. This gap between FMR and market rent presents a lucrative opportunity for landlords and small-portfolio investors who can take advantage of the higher subsidy rates to cover the costs of maintaining properties at a higher standard. The difference of $473 per month can be a deciding factor for many landlords when considering participation in the Section 8 program.
The data signature for ZIP 85305 reads as stable. The high median income supports a robust rental market, and the large number of renters indicates a consistent demand for affordable housing options. Given the disparity between the FMR and the ZORI, landlords can expect steady and reliable income through the Section 8 program without the risk of frequent changes in tenant demographics or market conditions. For small-portfolio investors, this stability means less volatility and more predictable cash flows, making Glendale a solid choice for long-term investments in subsidized housing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.