Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 85320 presents a unique opportunity for both landlords and small-portfolio investors. With a median home value of $481,592, the area reflects a stable housing market, suggesting that homeownership remains accessible to a broad range of buyers. The lack of percentage reduction in listings indicates that sellers are maintaining their asking prices, which aligns with the median days on market (DOM) figure being unavailable—typically signaling either a very active or a highly balanced market where homes sell quickly.
This combination of factors points towards strong seller pricing power in the short term. Homes are likely to retain their value and possibly appreciate slightly, given the current stability and demand. However, for long-term investors, the realistic appreciation thesis must be carefully considered. If historical trends suggest steady growth without significant fluctuations, then gradual appreciation is a reasonable expectation. But if past data reveals periods of volatility, then caution is advised, as sudden shifts could impact property values.
On the rental side, the Fair Market Rent (FMR) for ZIP 85320 in fiscal year 2024 is set at $1880. This figure provides a benchmark for rental rates in the area, though the absence of current market data means we cannot directly compare it to recent trends. Assuming the FMR accurately reflects the market, landlords can expect to maintain or slightly increase rents in line with inflationary pressures, ensuring a steady income stream.
To summarize, the data suggests that ZIP 85320 will continue to offer a stable environment for real estate investments. Home values are expected to remain firm, supporting the case for long-term ownership. Rental income, based on the FMR, should provide consistent returns, making this an attractive location for those looking to build a portfolio of rental properties.
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.