Section 8 Fair Market Rent (FMR) for ZIP 86427 - 2027
Location: Lake Havasu City-Kingman, AZ | Metro: Lake Havasu City-Kingman, AZ MSA
FY 2027 Fair Market Rent Rates
| 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 |
A skeptical investor looking into ZIP 86427 in Arizona might raise several valid concerns regarding the feasibility of investing in properties under the Section 8 program. Let's address these points directly using the available data.
- Will FMR $1210 (zip FY 2024) cover the mortgage on a property? The Fair Market Rent (FMR) for ZIP 86427 in fiscal year 2024 is set at $1210. This figure represents the maximum amount that can be charged for a rental unit under the Section 8 program. However, without knowing the average home price or typical mortgage rates in this area, it's impossible to definitively state whether this FMR will cover the mortgage. Investors should calculate their potential monthly mortgage payments based on current interest rates and average property values to determine if the FMR is sufficient.
- Is there enough renter demand at the given rate? The data does not provide a specific percentage for the occupancy rate or the number of renters in ZIP 86427. To make an informed decision, one would need to research local rental vacancy rates and the overall demand for housing in the area. If the vacancy rate is low and demand is high, then the FMR of $1210 could attract a sufficient number of tenants. Conversely, if there is high vacancy, attracting tenants might be challenging despite the FMR being set.
- Will vouchers keep pace with market rents? The FMR of $1210 is designed to reflect the average market rent for the area. However, the actual performance of voucher programs in keeping up with market rents can vary. In ZIP 86427, since the market rent data is not provided, we cannot compare the FMR against current market rents. It's important to monitor any changes in the local housing market and the availability of vouchers. If the market rents rise significantly faster than the FMR, landlords might find themselves subsidizing the difference between the voucher payment and the market rent.
The data provided gives a starting point with the FMR, but it's crucial for investors to delve deeper into the specifics of ZIP 86427, such as property values, mortgage costs, and local rental market dynamics. Without comprehensive data on these factors, making a fully informed decision remains challenging.
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.