Section 8 Fair Market Rent (FMR) for ZIP 85731 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 85731 in fiscal year 2024 is set at $1340. This figure represents the payment standard for Section 8 housing assistance in the area, meaning that if you participate in the program, the government will pay up to $1340 per month for a rental unit, depending on the size of the unit and the tenant's income.

Note that this is not the rent you can charge your tenants directly; it is the maximum amount the Housing Authority will pay on behalf of the tenant. Landlords often charge a portion of the rent to the tenant based on their income, which can vary but typically ranges around 30% of their adjusted gross income.

In comparison to the local market, the FMR does not provide a direct benchmark for typical rents since the local average rent is currently N/A. However, the FMR gives an indication of the rental price range that the government deems reasonable for the area. This can be useful when setting your own rent rates, especially if you are looking to attract Section 8 tenants.

The percentage of renters in the area is also N/A, which suggests that there is significant demand for rental properties. Given this high demand, participating in the Section 8 program can be a stable choice for landlords and small-portfolio investors, as it ensures a steady stream of income from the government.

The median home value in ZIP 85731 is N/A, which can help you gauge the acquisition cost of potential rental properties. While this doesn't directly correlate to rental property values, it can give you a sense of the overall real estate market in the area.

Before you decide to take the plunge into Section 8 rentals, verify that your property meets the Housing Quality Standards (HQS) required by the government. These standards ensure that the rental unit is safe, decent, and sanitary for tenants, and failing to meet them could result in disqualification from the program.

In summary, the FMR of $1340 for ZIP 85731 sets a clear limit for government payments under the Section 8 program. With high local demand for rentals and a potentially stable income source, the program can be a good fit for those looking to invest in the area. Just make sure your property meets the necessary HQS requirements to avoid any issues down the line.

Data Sources: FMR data from HUD (2027).

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.