Location: Prescott Valley-Prescott, AZ | Metro: Prescott Valley-Prescott, AZ MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,870 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $3,230 |
| 4 Bedrooms | $3,400 |
| 5 Bedrooms | $3,944 |
| 6 Bedrooms | $4,417 |
| 7 Bedrooms | $4,770 |
| 8 Bedrooms | $5,009 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,230 | $530,386 | 0.61% | D |
| 4BR | $3,400 | $670,998 | 0.51% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 86315 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) set specifically for this ZIP code is $2100 per month for the fiscal year 2024. In contrast, the local market rent, as measured by ZORI (Zillow Observed Rent Index), is $2300 per month.
A landlord participating in the Section 8 program receives rental payments from the government based on the SAFMR. However, the total amount received is not just the SAFMR. It includes the tenant's portion of the rent and any utility allowances. Typically, the tenant pays 30% of their adjusted income toward rent. If we assume an average adjusted income of $1500, the tenant would contribute $450 towards the rent. This means the landlord would receive $2100 from the government plus the $450 from the tenant, totaling $2550 per month.
Utility allowances can vary but are usually around $150 to $200 per month. Adding a $175 utility allowance to the reimbursement, the total monthly reimbursement becomes $2725. This figure exceeds the local market rent of $2300, leaving a surplus for the landlord.
To summarize, a landlord in ZIP 86315 who accepts a Section 8 voucher for a two-bedroom unit will receive a total of $2725 per month. Given the local market rent of $2300, this results in a surplus of $425 per month for the landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.