Location: Tucson, AZ | Metro: Tucson, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
U.S. Census Bureau data (2024)
The ZIP code 85708 is a predominantly rental-focused neighborhood with a population of 4,312 residents, where 99.4% are renters. The median income for this area stands at $63,919, indicating a middle-class community. Notably, there is no median home value data available, which aligns with the overwhelming majority of renters rather than homeowners.
Moving into the economic dynamics of renting, the Fair Market Rent (FMR) for ZIP 85708 in fiscal year 2024 is set at $1,890. This figure is higher than the reported market rent of $1,712 according to the Census Bureau's American Community Survey (ACS). This suggests a potential opportunity for landlords who can offer properties that meet the standards required for Section 8 eligibility, as they may be able to receive higher rents through the voucher program compared to the open market.
Given the high percentage of renters and the income levels in the area, ZIP 85708 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the neighborhood's reliance on rental housing and the disparity between FMR and market rent make it an attractive option for leveraging Section 8 vouchers. Meanwhile, value-add buyers can capitalize on the opportunity to improve properties to meet the higher FMR standards, thereby increasing their rental income potential beyond the current market rates.
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.