Location: Gila County, AZ | Metro: Phoenix-Mesa-Chandler, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 85545 reveal a market in motion, influenced by the interplay between rental and homeownership trends. The Fair Market Rent (FMR) for the area stands at $1880 for the fiscal year 2024, which serves as a benchmark for rental pricing. However, the lack of specific market rent data suggests that there might be limited information on current rental rates, possibly due to a nascent or rapidly changing market.
The median home value in ZIP 85545 is $246,849, indicating a relatively affordable residential market. This figure is critical for understanding the balance between supply and demand. In markets where supply outpaces demand, we often see lower median home values as sellers compete to attract buyers. Conversely, if demand exceeds supply, median home values tend to rise. While the exact relationship is unclear without historical context, the median home value suggests that the market could be stable or slightly favoring buyers, depending on the rate of new construction and the pace of population growth.
The 16.4% renter share highlights a significant aspect of the housing landscape in 85545. A higher percentage of renters can signal long-term housing pressure, as it may indicate a growing number of individuals who find homeownership unattainable due to financial constraints or other reasons. This trend could persist if the area continues to attract young professionals, students, or families who prefer the flexibility of renting over purchasing a home. It also suggests that landlords and small-portfolio investors should pay close attention to the rental market, as it plays a crucial role in the overall housing economy of the region.
In summary, ZIP 85545 presents a market characterized by an FMR of $1880 and a median home value of $246,849. The 16.4% renter share points towards a segment of the population facing housing challenges, likely due to affordability issues or lifestyle preferences. For landlords and investors, this means a steady demand for rental properties, though the absence of detailed market rent and price-cut data indicates a need for further investigation into the local rental trends and competition 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.