Section 8 Fair Market Rent (FMR) for ZIP 85344 - 2027
Location: La Paz County, AZ | Metro: La Paz County, AZ
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$54,583
When considering whether to purchase a property in ZIP code 85344 (Parker, AZ) for Section 8 investment, follow these steps:
- Step 1: Can the Fair Market Rent (FMR) of $1,220 cover the debt service on a $349,733 property?
- Yes: The FMR is sufficient to cover the mortgage payments and other expenses associated with owning a property valued at $349,733. This means the rental income can support the investment.
- No: The FMR cannot fully cover the debt service on a property of this value, indicating that Section 8 may not be financially viable for such an expensive asset.
- Step 2: How does the market rent of $807 compare to the FMR?
- Above FMR: If the market rent were higher than the FMR, it would suggest that there's potential for higher returns outside of Section 8. However, since the market rent is below the FMR, it indicates that Section 8 might offer better rental rates than the local market.
- At FMR: Not applicable given the data provided.
- Below FMR: The market rent is below the FMR, which means Section 8 could provide more stable and higher rental income compared to the local market rate.
- Step 3: Is there sufficient demand with 37.1% of residents being renters and no available data on days on market (DOM)?
- It depends: With 37.1% of residents renting, there is a notable portion of the population that relies on rental housing. However, without specific data on DOM, it's challenging to assess how quickly properties are rented out. If the rental vacancy rate is low, this could indicate strong demand. Conversely, if there's high competition among landlords, it might affect your ability to fill vacancies promptly.
In conclusion, purchasing a property in ZIP 85344 for Section 8 investment is viable if the FMR of $1,220 can cover the debt service on a $349,733 property. Given that the market rent is $807, which is below the FMR, Section 8 could provide a more reliable source of income. The presence of 37.1% renters suggests demand exists, but the lack of DOM data means you must further investigate the local rental market dynamics to make a final decision.
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.