Location: Tucson, 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 Fair Market Rent (FMR) for ZIP code 85634 in fiscal year 2024 is set at $1570. This figure represents the payment standard for Section 8 housing vouchers, which is the amount that the Housing Authority will pay towards your rental property. It's important to note that this is not the total rent you can charge; it's the maximum subsidy payment.
To understand the local rental market better, consider that the average rent in ZIP 85634, according to the Census American Community Survey, is $493. This lower figure indicates that the FMR of $1570 is significantly higher than the typical rent in the area, suggesting a potential opportunity for landlords to earn above-average income from a Section 8 rental.
Additionally, the renter share in this ZIP code is 32.6%, meaning that a substantial portion of the population rents their homes. This high percentage of renters suggests strong demand for rental properties, including those participating in the Section 8 program.
When acquiring a property for a Section 8 rental, the cost is listed as N/A, which might indicate that there isn't specific data available on acquisition costs. However, you should still conduct thorough research on property values and costs in the area to ensure you're making a sound investment.
A key factor to verify before committing to a Section 8 rental is the condition of the property. The Housing Choice Voucher Program requires that all rental units meet certain standards known as Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary. Before signing any agreements, make sure your property meets these criteria to avoid costly repairs and delays.
In summary, the FMR of $1570 offers a clear benchmark for the subsidy you'll receive, while the local average rent of $493 highlights the potential for above-market returns. With a 32.6% renter share, there's strong demand for rentals in this area. Verify that your property meets HQS to proceed confidently with a Section 8 rental in ZIP 85634.
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.