Location: Prescott Valley-Prescott, AZ | Metro: Prescott Valley-Prescott, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
ZIP code 86341, located within the Prescott Valley-Prescott, AZ Metropolitan Statistical Area (MSA), has a Fair Market Rent (FMR) of $1,640 for fiscal year 2026. This figure represents the maximum amount that a household paying 30% of their income towards rent should pay in the area, based on HUD guidelines.
The lack of specific data regarding market rent, home value, and renter share makes it challenging to provide a precise comparison to other ZIP codes within the same MSA. However, we can infer some characteristics based on the available FMR data. The FMR of $1,640 suggests that 86341 could be considered a mid-tier neighborhood within the Prescott Valley-Prescott, AZ MSA. Typically, areas with higher FMRs tend to have higher market rents and home values, indicating a premium sub-market, while lower FMRs might suggest a value pocket where rents and home values are more affordable.
To determine if 86341 is indeed a value pocket, mid-tier neighborhood, or a premium sub-market, more detailed data would be necessary. For example, if the actual market rent were significantly lower than $1,640, this could indicate that 86341 is a value pocket, attractive to both low-income renters and investors looking for properties that offer good returns at affordable price points. Conversely, if the market rent were close to or above $1,640, then it would likely be a mid-tier neighborhood or even a premium sub-market, depending on the home values.
A high renter share combined with below-average home values in the MSA often indicates a sweet spot for Section 8 investors. Unfortunately, without the exact percentage of the renter share and the comparative home values, we cannot definitively conclude whether 86341 fits this description. To make a more informed analysis, one would need to consult additional sources for market rent and home value trends within the Prescott Valley-Prescott, AZ MSA.
In summary, ZIP code 86341 appears to be positioned as a mid-tier neighborhood within the Prescott Valley-Prescott, AZ MSA based on its FMR of $1,640. However, to accurately classify it as a value pocket or a premium sub-market, further investigation into market rent, home values, and renter share percentages is required.
Data Sources: FMR data from HUD (2027).
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.