Section 8 Fair Market Rent (FMR) for ZIP 85359 - 2027

FY 2027 Fair Market Rent Rates

The renter's perspective in ZIP code 85359, located in Arizona, reveals a complex situation regarding housing affordability. The median income for households in this area is currently not available, which makes it challenging to assess the overall financial health and spending capacity of residents. Similarly, the market rate for rental properties is also unspecified, leaving a significant question mark on how much tenants typically pay for housing.

However, we do have information on the Housing Choice Voucher program payment standard, which is set at $1,150 for Fair Market Rent (FMR) in the metro area for fiscal year 2026. This figure serves as a benchmark for what low-income families can afford, and it is crucial for landlords considering whether to accept vouchers or seek out-of-pocket payments from tenants.

The percentage of renters and the total population in ZIP 85359 is also not provided, but these details would be essential in understanding the competition among landlords and the demand for affordable housing. Without this data, it's difficult to quantify the exact affordability gap, but it's safe to infer that if the median income is lower than the typical market rate, there could be a substantial number of residents relying on government assistance such as the Housing Choice Voucher program to find suitable housing.

For landlords, the decision to accept vouchers versus seeking cash-paying tenants hinges on several factors, including the stability of rental income and the administrative ease of managing properties. Accepting vouchers guarantees a steady stream of income, albeit at a fixed rate of $1,150 per month for a unit that might otherwise fetch a higher price on the open market. On the other hand, cash-paying tenants offer the potential for higher rents but come with the risk of non-payment and the need to screen for financial reliability.

The takeaway for landlords is that accepting vouchers can provide a reliable tenant base, particularly in areas where the median income is likely to be below the market rate. It ensures that units are occupied and income is consistent, even if it means forgoing the possibility of commanding higher rents. For those looking to maximize profits, identifying the local median income and market rates will be critical in deciding whether to target cash-paying tenants who can afford above the voucher rate, or to secure a steady income through the voucher program.

Data Sources: FMR data from HUD (2027).

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.