Location: Phoenix-Mesa-Chandler, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,500 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 85343 within the Phoenix-Mesa-Chandler, AZ MSA highlights several key points for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 85343 in fiscal year 2024 is set at $1970. However, without specific market rent data, it's challenging to provide a direct comparison. If the market rent is below $1970, then the rent math does not work in favor of landlords, as they would be setting their rents too high relative to what tenants are willing to pay. Conversely, if the market rent exceeds $1970, landlords could potentially attract more tenants by pricing closer to the FMR.
Regarding the affordability of acquisition, the median home value is not provided, making it difficult to assess the cost-effectiveness of purchasing properties in this area. Additionally, the number of days on market (DOM) and the percentage of homes that required price cuts are also not specified, which are crucial metrics for understanding how competitive and affordable the housing market is for potential acquisitions.
The third point concerns tenant demand. With a total population of 18 and a renter share of 0.0%, it's evident that there is a very limited pool of potential renters in this ZIP code. This low demand suggests that landlords might struggle to find tenants, especially given the extremely low renter share, indicating that most residents likely own their homes rather than renting.
Verdict: Investing in ZIP 85343 presents significant challenges. The lack of detailed market rent data makes it difficult to determine if the rent math works effectively. The absence of median home value, DOM, and price-cut share percentages leaves the affordability of property acquisition uncertain. Most critically, the near-zero renter share combined with an exceptionally low population count indicates a highly unattractive environment for rental property investment. Landlords should consider other areas with higher tenant demand and clearer financial metrics before committing to this ZIP code.
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.