Location: Flagstaff, AZ | Metro: Flagstaff, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
U.S. Census Bureau data (2024)
The ZIP code 86018 is located in a quiet, suburban neighborhood in Arizona. With a total population of 1,181, it is evident that this area is sparsely populated, making it ideal for those seeking a peaceful living environment. Only 5.2% of the residents are renters, which indicates a strong preference for homeownership among the populace. This is further supported by the median home value of $606,464, suggesting that the homes in this area are relatively expensive and attract a higher-income demographic. The median household income of $77,279 aligns with this observation, reflecting a community where most individuals can afford to purchase rather than rent their homes.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 86018 is set at $2,560 for fiscal year 2024. However, the lack of data on market rent suggests that the rental market in this ZIP code is either very small or not well documented. Given the low percentage of renters and the high cost of homeownership, it's reasonable to infer that the rental market is niche and possibly dominated by Section 8 vouchers.
Considering these factors, ZIP 86018 might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The limited rental market means that there is less opportunity for active management and improvements aimed at increasing rental income beyond the voucher rates. Landlords who are willing to accept Section 8 vouchers and manage properties with minimal intervention will find this ZIP code to be a stable investment due to the consistent demand from eligible tenants and the government-backed rental payments.
In conclusion, the demographics and economic indicators of ZIP 86018 point towards a tranquil, upper-middle-class residential area. For investors looking to enter the rental market here, focusing on properties that can benefit from the Section 8 program is advisable, given the constraints of the local rental landscape.
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.