Location: Navajo County, AZ | Metro: Flagstaff, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,440 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
ZIP code 85928, located within Navajo County, Arizona, presents a unique set of characteristics when compared to other ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 85928 is $1860 for fiscal year 2024, which is notably higher than the market rent of $1,367. This suggests that properties in 85928 may be more attractive to tenants participating in the Section 8 housing choice voucher program, as they can afford higher rents through subsidies.
The median home value in ZIP 85928 is $442,366, which is likely above the average for many other ZIP codes in Navajo County. However, it's the renter share that truly sets 85928 apart. With a renter share of 32.4%, it exceeds the typical percentage found in other ZIP codes within the county, indicating a higher concentration of renters. This combination of a relatively high FMR and a substantial renter share points towards 85928 being a prime location for landlords and investors interested in the Section 8 program.
The discrepancy between the FMR and market rent, alongside the elevated renter share, suggests that 85928 could be considered a Section 8 sweet spot. Landlords here might benefit from a steady stream of tenants who can cover higher rent amounts due to the voucher program, making it a valuable investment area despite the higher home values. This positioning indicates that 85928 is neither a value pocket nor a mid-tier neighborhood but rather a premium sub-market within the Navajo County metro for those focusing on Section 8 rentals.
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.