Location: Navajo County, AZ | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The median income in ZIP code 86033 stands at $40,313, which places significant constraints on the financial capabilities of its residents. Given the market rate rent of $616 per month, it is evident that many households struggle to meet this expense comfortably. This figure represents a substantial portion of their monthly income, especially when considering other essential living costs.
In contrast, the Fair Market Rent (FMR) standard set for ZIP 86033 in fiscal year 2026 is significantly higher at $1,330. This disparity highlights a considerable affordability gap for renters, making it challenging for them to find suitable housing that matches both their budget and the voucher payment standards.
With 33.3% of the 7,392 population being renters, competition among landlords is intense. The difference between the actual market rate and the FMR indicates that landlords who accept vouchers might have an advantage in attracting tenants, despite the lower rental rates compared to market value.
Landlords considering their strategy should take note: while accepting Section 8 vouchers may ensure steady, government-backed rental payments, it also means operating within a fixed rate structure that could be below current market rates. On the other hand, focusing on cash-paying tenants offers the potential for higher revenue but increases risk due to the financial strain on local renters and the likelihood of higher vacancy rates.
The takeaway is clear: landlords must carefully weigh the benefits of voucher stability against the potential for higher cash rents. Given the financial realities of the area, a balanced approach may be necessary to maintain occupancy and financial viability.
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.