Location: Tucson, AZ | Metro: Tucson, AZ MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,620 | $327,208 | 0.5% | F |
| 3BR | $2,240 | $485,475 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP Code 85622, located in Green Valley, Arizona, within the Tucson, AZ MSA, serves as an ideal diversifier for a Section 8 portfolio strategy. With a median income of $76,959, it provides a stable tenant base capable of meeting the requirements of Section 8 vouchers. The area boasts a 11.1% renter share, indicating a substantial demand for rental properties.
The median home value in Green Valley stands at $371,100, which is significantly higher than the market rent of $1,274. However, the Fair Market Rent (FMR) for the ZIP code in fiscal year 2024 is set at $1,590. This spread between the FMR and the market rent suggests that properties in this area can be rented at rates that align with Section 8 guidelines without sacrificing profitability. Additionally, the relatively low price-cut share of 0.2% and a days-on-market (DOM) figure of 63 indicate a competitive but not overly saturated market, allowing for steady property turnover and appreciation potential.
Incorporating ZIP 85622 into a Section 8 portfolio ensures a mix of stability and growth. The strong income levels support a reliable stream of rental payments, while the balance between FMR and market rents allows for strategic pricing that attracts tenants while maintaining cash flow. The moderate appreciation potential and low renter share make this ZIP code a valuable component for diversifying risk across a portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.