Location: Apache County, AZ | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 85940 in Apache County, Arizona, reveals several key points for landlords and small-portfolio investors.
The rent math in this area does not provide clear insights due to the lack of available market rent data. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,420, but without a comparison to current market rents, it's difficult to assess whether this figure represents a profitable rental opportunity. Landlords should seek additional local data to make informed decisions on setting their rental rates.
In terms of acquisition affordability, the median home value in ZIP 85940 stands at $382,181. This figure indicates that purchasing properties in this area can be relatively expensive compared to other regions. However, the low Days on Market (DOM) of N/A and the minimal 0.1% price-cut share suggest that homes are selling quickly once listed and that sellers are rarely needing to lower their asking prices. These factors point towards a stable market where investment in property could be worthwhile, despite the higher median values.
Tenant demand is another critical aspect to consider. With a total population of 1,185 and a renter share of 11.2%, the pool of potential tenants is limited. This suggests that landlords might face challenges in finding enough tenants to fill their units, especially given the small size of the population. Investors should prepare for potentially higher vacancy rates or consider targeting niche markets to ensure steady occupancy.
Verdict: While the acquisition costs in ZIP 85940 are high, the quick sale times and low need for price reductions indicate a stable market. However, the limited population and low renter share pose significant risks to tenant demand. Landlords and investors must carefully weigh these factors and possibly focus on attracting long-term or specialized tenants to maintain profitability. Without definitive market rent data, the success of rental pricing strategies remains uncertain, requiring further local research to optimize financial outcomes.
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.