Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
U.S. Census Bureau data (2024)
ZIP code 85308 in Glendale sits in the Arrowhead Ranch area, a master-planned community known for its lake, manicured landscaping, and suburban feel. It is largely a residential haven distinct from the historic core of Glendale, offering residents a quiet atmosphere with convenient access to outdoor recreation. The neighborhood is notably anchored by the Arrowhead Towne Center, a major regional shopping mall that serves as a primary commercial hub for the northwest valley, drawing steady traffic and supporting local service businesses. This setting generally attracts families and long-term residents looking for stability rather than the transient populations found in higher-density urban cores.
From a strictly numerical standpoint, this ZIP presents an interesting spread. The FY2026 Full Fair Market Rent (FMR) for a 2-bedroom unit is set at $2,140, while current market rents (Zillow ZORI) sit lower at $1,640, creating a notable gap of $500. However, for this specific fiscal year, the HUD SAFMR is $2,070. The median home value stands at $475,006, with a median 2BR sale price of $325,570. Properties are moving at a moderate pace, with a median days on market of 56 days. For a landlord utilizing a voucher at the SAFMR rate of $2,070, the potential monthly cash flow exceeds typical market rents by approximately $430.
The tenant pool here is characterized by solid fundamentals, with a median household income of $95,247 and a renter share of 29.2%. This income level suggests that even the working-class population in the area is relatively affluent compared to county averages. Families are often drawn to the highly-rated schools in the Peoria Unified School District and the ample park space surrounding the Arrowhead Lakes. While the lower renter share indicates a predominance of owner-occupants, the high income and family-oriented amenities imply that any Section 8 tenants referred here are likely to be stable, long-term holders rather than short-term turnovers.
The Section 8 verdict for 85308 leans heavily toward cash flow arbitrage. Because the market rent of $1,640 lags behind the $2,070 SAFMR, investors can secure yields significantly above the local market rate by accepting vouchers. With a median 2BR price of $325,570, the spread allows for strong debt coverage ratios that standard market rents might not support. While the area offers appreciation potential given the $475,006 median home value, the immediate financial advantage lies in the statutory rent ceiling being higher than what the open market currently bears.
Data Sources: FMR data from HUD (2027). 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.