Location: Apache County, AZ | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 85932, located in the Apache County, AZ metro area, presents a unique opportunity for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area stands at $1,310 for fiscal year 2026, which is the benchmark for voucher tenants' rental payments. However, without specific data on the current market rent, it's challenging to definitively state how voucher tenants will perform in terms of cashflow.
To derive insights into the rent-to-price ratio, we can use the median home value of $441,542. Assuming a typical mortgage rate and term, this suggests that the rent-to-price ratio is relatively low, indicating that owning property might be more financially advantageous compared to renting. For instance, a homeowner could potentially earn more over time through equity build-up and appreciation than a landlord could through rental income alone.
The lack of day median Days on Market (DOM) and percentage of price cut data complicates a full assessment of the buy-versus-rent dynamic. Nonetheless, these metrics would typically influence an investor's decision, especially when considering the stability and potential for appreciation of their investment.
In conclusion, while the exact cashflow scenario for voucher tenants remains unclear due to missing market rent data, the low rent-to-price ratio and the high median home value suggest that the strongest investor angle in ZIP 85932 is likely appreciation. This makes owning a property a more compelling long-term strategy compared to purely rental income, given the current conditions and the expected growth in property values.
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.