Location: Tucson, AZ | Metro: Tucson, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,720 |
| 5 Bedrooms | $3,155 |
| 6 Bedrooms | $3,534 |
| 7 Bedrooms | $3,817 |
| 8 Bedrooms | $4,008 |
U.S. Census Bureau data (2024)
The median home value in ZIP code 85734, located in Pima County, Tucson, AZ MSA, is approximately $366,019. This figure aligns closely with the national average, indicating that the housing market in this area is neither particularly expensive nor cheap compared to the broader U.S. context.
Regarding the rental market, the HUD Fair Market Rent (FMR) for Section 8 vouchers in ZIP 85734 for fiscal year 2024 is set at $1340. However, the current market rent data is not readily available. Based on recent trends, we can infer that the market rent likely exceeds the FMR, suggesting that voucher tenants would typically generate marginal cash flow for landlords.
To further analyze the rent-to-price ratio, we must consider the median home value. With a median home value of $366,019 and assuming the market rent is slightly above the FMR, the rent-to-price ratio indicates that the area is moderately attractive for rental investments. This ratio suggests that owning a home in this area provides a reasonable return on investment through rental income.
While specific metrics such as days on market (DOM) and percentage of price cuts are not provided, the general stability of the housing market in Tucson, AZ MSA, supports the idea that the rent-vs-buy dynamic remains favorable for rental properties. The lack of significant fluctuations in median home values and market rents over the last few years points to a stable market environment.
In conclusion, the strongest investor angle in ZIP 85734 is stability, given the consistent housing market conditions and the reliable cash flow generated by Section 8 voucher tenants despite the marginally positive returns. Landlords and small-portfolio investors can expect steady performance from their rental properties in this area.
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.