Location: Lake Havasu City-Kingman, AZ | Metro: Lake Havasu City-Kingman, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
ZIP code 85360, located within the Lake Havasu City-Kingman, AZ MSA, presents an interesting mix of characteristics compared to typical ZIP codes in the same metro area. The Fair Market Rent (FMR) for ZIP 85360 stands at $1260 for fiscal year 2024, which is a key figure for landlords and investors interested in properties that might qualify under the Section 8 program.
Despite the lack of specific market rent and home value data for 85360, we can infer its position within the broader context of the Lake Havasu City-Kingman, AZ MSA based on the available information. With a 10.8% renter share, this ZIP code has a higher proportion of renters compared to the average metro area, where renter shares typically range lower. This suggests that 85360 could be attractive for Section 8 tenants.
The FMR of $1260 provides a benchmark for rental prices that are considered affordable for low-income families, as determined by HUD. If the actual market rents in 85360 are below this figure, it would indicate that the ZIP code offers good value for Section 8 participants. However, without specific market rent data, we cannot definitively state whether 85360 is a value pocket or a premium sub-market. But given the higher-than-average renter share, it leans towards being a more accessible area for subsidized housing.
A higher renter share combined with below-metro average home values, if they were available, would indeed signal a potential sweet spot for Section 8 investments. Such conditions suggest that there are more opportunities for affordable housing rentals, which align well with the goals of the Section 8 program.
In summary, ZIP 85360 appears to be a neighborhood that could serve as a value pocket within the Lake Havasu City-Kingman, AZ MSA, particularly appealing to those looking to participate in the Section 8 program due to its higher-than-average renter share and the established FMR threshold of $1260. Further analysis would require additional data points such as specific market rents and home values to make a more precise assessment.
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.