Location: Lake Havasu City-Kingman, AZ | Metro: Lake Havasu City-Kingman, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
The ZIP code 86405 in Unknown, Arizona, presents an intriguing market for landlords and small-portfolio investors interested in Section 8 tenants. With a significant portion of the population renting rather than owning homes, this area is characterized by a robust demand for rental properties. The exact percentage of renters is not available, but the lack of data on homeowners suggests that the rental market is likely the primary housing solution for residents.
The median household income in ZIP 86405 is also unspecified, which makes it challenging to provide a precise comparison with the local market rent. However, given the reliance on rentals, it's reasonable to infer that many residents rely on financial assistance such as Section 8 vouchers to afford housing. The Fair Market Rent (FMR) for the area is set at $1210 for FY 2024, indicating the average rent level that federal housing programs consider affordable for low-income families.
In areas where the median income is not high, the typical rent can consume a substantial portion of the monthly earnings. Assuming a lower median income level, the $1210 FMR could represent a significant expenditure for local households. For instance, if the median income were around $24,000 annually, the FMR would constitute approximately 50% of the gross annual income, highlighting the necessity for rental subsidies.
The type of tenant profile expected in ZIP 86405 includes individuals and families who are seeking stable housing and are likely to be dependent on government assistance to meet their living expenses. Landlords should anticipate working closely with the local housing authority to ensure compliance with Section 8 regulations and manage the administrative aspects of renting to voucher holders.
To summarize, ZIP 86405 appears to be a renter-heavy zone with a strong potential for deep voucher demand, driven by the lack of data suggesting a homeowner-dominated area. The FMR of $1210 reflects the affordability threshold for low-income families, likely consuming a considerable share of their income. Landlords should prepare for a tenant base that requires financial support through housing vouchers and be ready to navigate the associated administrative processes.
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.