Location: Prescott Valley-Prescott, AZ | Metro: Prescott Valley-Prescott, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 86343 within the Prescott Valley-Prescott, AZ MSA reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 86343 in fiscal year 2024 is set at $1160. However, the market rent data is currently unavailable, which makes it difficult to compare the FMR against actual market rates. This lack of comparison data could indicate either a well-aligned rental market or an area where further investigation is needed to understand local dynamics.
The second point concerns the affordability of property acquisition. The median home value in ZIP 86343 is $262,824. Unfortunately, the data regarding the number of days on the market (DOM) and the percentage of homes sold at a discount is not available. This absence of information means that while the median home value provides a benchmark for investment costs, the ease and typical terms of acquiring properties remain unclear.
The third aspect is tenant demand. With a total population of 194, the renter share stands at 22.5%. This relatively low population base suggests a limited pool of potential tenants, but the renter share indicates a significant portion of the population is looking for rental housing. The combination of these factors implies that while the number of renters is small, they represent a substantial segment of the local community.
Verdict: Investing in ZIP 86343 presents a mixed scenario. The rent math appears favorable based on the FMR, but without market rent data, it's challenging to make a definitive assessment. Property acquisition is moderately priced, yet the lack of specific DOM and price-cut share data complicates the evaluation of how quickly and profitably properties can be bought and sold. Tenant demand is strong relative to the small population, making it suitable for those willing to manage a smaller number of units. Overall, ZIP 86343 could be a viable option for investors who are comfortable with less data-driven decision-making and who focus on long-term stability rather than quick turnover.
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.