Location: Navajo County, AZ | Metro: Navajo County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 86029 presents a unique set of challenges and opportunities for both landlords and tenants. Given the lack of specific data on median income and market rates, we must rely on the available information to draw conclusions. The area has a very low number of renters, with only 0.0% of the 74-person population renting their homes. This indicates a predominantly owner-occupied community, which could mean fewer potential tenants but also less competition among landlords.
When it comes to affordability, the Federal Payment Standard (FPS) for ZIP 86029, which is part of the Fair Market Rent (FMR) criteria used for Section 8 vouchers, stands at $1,250 per month for fiscal year 2026. This figure represents the maximum amount that a household receiving a housing voucher would be required to pay towards rent, based on 30% of their adjusted income. However, without knowing the actual market rate for rentals in the area, it's challenging to determine if this standard is sufficient to cover the cost of renting.
In an environment where the population is small and the percentage of renters is virtually non-existent, the affordability gap becomes a critical factor. If the market rate exceeds the FPS of $1,250, landlords might find themselves in a situation where they have to choose between accepting lower payments through voucher programs or seeking out-of-area tenants willing to pay higher rents. This scenario could lead to reduced competition for landlords who decide to participate in voucher programs, as fewer properties may be available for voucher holders.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear. In ZIP 86029, where the rental market is underdeveloped and the population is sparse, there may be limited options for cash-paying tenants. By accepting vouchers, landlords can tap into a federal program designed to ensure stable housing, albeit at a fixed rate of $1,250. This strategy could provide a steady stream of income and reduce vacancy rates, especially in a community with such a low percentage of renters.
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.