Location: Prescott Valley-Prescott, AZ | Metro: Prescott Valley-Prescott, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
To classify ZIP code 85362, we need to analyze its yield and stability based on the provided data. The Fair Market Rent (FMR) for ZIP 85362 in fiscal year 2024 is $1160. This figure represents the average rent that can be expected for properties in this area under the Section 8 program. Given the median home value of $270,162, it's clear that the rental income potential is relatively low compared to the property values, indicating a lower yield market.
The stability of the market can be gauged by several factors including the percentage of renters, days on market (DOM), and median household income. In ZIP 85362, 17.9% of residents are renters, which is a modest figure suggesting that there is a significant portion of homeowners in the area. The median household income is $47,609, which provides insight into the financial capability of the residents to maintain consistent rental payments. However, the lack of data on the average days on market (DOM) makes it challenging to fully assess the stability of the rental market.
Based on these figures, ZIP 85362 does not appear to be a high-yield market due to the relatively low FMR compared to the median home value. Additionally, the modest percentage of renters suggests that while the market offers some stability through a higher concentration of homeowners, the rental sector may not provide reliable cash flow. Therefore, this ZIP code falls more into the category of a steady-cashflow zone, but with limited upside for yield-focused investments. For landlords and small-portfolio investors, the key consideration should be the balance between rental income and the broader economic stability of the area, as indicated by the median income levels.
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.