Section 8 Fair Market Rent (FMR) for ZIP 85322 - 2027

Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,180
1 Bedroom	$1,270
2 Bedrooms	$1,470
3 Bedrooms	$1,940
4 Bedrooms	$2,150
5 Bedrooms	$2,494
6 Bedrooms	$2,793
7 Bedrooms	$3,016
8 Bedrooms	$3,167

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

476

Median Household Income

$75,417

Housing Units

199

Renter Percentage

N/A

Occupancy Rate

87.4%

Renter Occupied

The ZIP code 85322, located in Maricopa County, Arizona, is primarily characterized by its suburban setting, featuring a mix of residential areas and some commercial developments. This region is known for its relatively stable housing market, with a focus on homeownership over renting.

Fair Market Rent (FMR): $1570 - For fiscal year 2024, the fair market rent for a two-bedroom apartment in ZIP 85322 is set at $1570. This figure represents the maximum amount that low-income families should pay in rent, based on the local rental market conditions.
Rental Market Data: Not Available - There is currently no specific data available regarding the average market rent for properties in ZIP 85322, indicating a limited presence of rental units in the area.
Median Home Value: $375,516 - The median home value in this ZIP code is significantly higher than the national average, reflecting a strong and desirable housing market.
Renter Share: 0.0% - The area has virtually no renters, with almost all residents owning their homes. This statistic underscores the community's preference for homeownership.
Days on Market (DOM): Not Available - Information about the typical days on market for homes in 85322 is not available, suggesting a quick sell-through rate for listings.
Median Income: $75,417 - The median household income in ZIP 85322 is $75,417, which is above the national median and indicates a prosperous community with a high purchasing power.

Given the strong homeownership trend and the absence of specific rental market data, it is evident that investing in rental properties within ZIP 85322 would likely face challenges due to the low demand for rentals. However, the high median home value and median income suggest that there is significant potential for investment in single-family homes or condominiums aimed at first-time buyers or those looking to relocate to a stable, middle-class neighborhood. Landlords and small-portfolio investors should focus on the resale market rather than the rental market, given the current conditions.

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.