Location: Flagstaff, AZ | Metro: Flagstaff, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,440 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
19.5% of the population in ZIP 86053 are renters, indicating a significant demand for rental properties. This makes it a viable market for landlords and small-portfolio investors looking to capitalize on rental opportunities. The Fair Market Rent (FMR) for ZIP 86053 as of fiscal year 2024 is set at $1460, which represents the upper limit for Section 8 housing assistance payments. Comparatively, the market rent based on Census ACS data is $682, suggesting that properties priced at or below this amount could attract tenants through Section 8 vouchers. However, the lack of data on median home values indicates that there might be limited opportunities for purchasing homes in this area, potentially due to a focus on rentals rather than sales. The median income of $40,956 provides insight into the financial capacity of potential tenants, though it's important to note that Section 8 participants typically earn significantly less. With no available data on days on market (DOM) or the percentage of price-cut shares, it's challenging to assess the velocity of property transactions and the frequency of price reductions. Nonetheless, given the established FMR and market rent figures, landlords can confidently set their rental prices within these parameters to remain competitive while ensuring compliance with Section 8 guidelines.
A final consideration for investors is the potential for vacancy rates and tenant turnover, which are not directly indicated by the available data but are crucial factors in determining investment success. In conclusion, ZIP 86053 presents a clear opportunity for rental investments, particularly those seeking to participate in the Section 8 program, with a strong emphasis on properties priced at or below $682 per month. The verdict for Section 8 participation in this ZIP code is positive, provided that investors adhere to the specified FMR and consider the local economic conditions.
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.