Location: Phoenix-Mesa-Chandler, 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 ZIP code 85631, located in San Manuel, Arizona, stands out within Pinal County due to its unique demographic and economic characteristics. With a total population of 3,508 residents, only 16.0% of whom rent their homes, it has a relatively low rental rate compared to other areas. The median income in San Manuel is $48,389, while the median home value sits at $157,663, indicating a stable housing market where homeownership is prevalent.
When examining the voucher economics, the Fair Market Rent (FMR) for ZIP 85631 in fiscal year 2024 is set at $1570, which is significantly higher than the actual market rent of $708 as reported by the Census ACS. This disparity suggests that landlords participating in the Section 8 program can expect to receive a higher rent subsidy than what is typically charged in the local market. As a result, landlords in San Manuel could see an increased profit margin when leasing properties under the Section 8 program.
The data signature for ZIP 85631 indicates a stable environment, characterized by a modest but consistent rental demand and a housing market that leans towards homeownership. The high FMR relative to the market rent also points towards a steady flow of federal funds into the local rental market, supporting both tenants and landlords. Given these factors, San Manuel appears to be a reliable location for small-portfolio investors interested in the Section 8 program.
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.