Location: Lake Havasu City-Kingman, AZ | Metro: Lake Havasu City-Kingman, AZ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
U.S. Census Bureau data (2024)
The ZIP code 86432 presents a dynamic rental market with a Federal Market Rent (FMR) of $1060 for fiscal year 2024, while the actual market rent, as reported by the Census American Community Survey, stands at $914. This discrepancy suggests that landlords have an opportunity to increase rents to align with the FMR, indicating a potential upward pressure on rental prices.
The low price-cut share of 0.2% signals that most properties are being rented at their initial asking price, which is a strong indicator of demand matching or slightly exceeding supply. This implies that tenants are willing to pay the set rental rates without significant negotiation, suggesting a competitive environment for renters.
The median home value in ZIP 86432 is $375,385. This figure, combined with the relatively low market rent, indicates that homeownership might be preferred over renting due to the higher cost of owning versus renting. However, the 17.6% renter share also points to a persistent need for rental units, as a significant portion of residents choose or must rely on rental housing. This percentage can reflect long-term housing pressures, such as affordability issues or lifestyle choices that favor renting over buying.
In summary, ZIP 86432 leans towards a market where demand is closely aligned with supply, if not slightly outpacing it. The low price-cut share and the potential for rental increases to meet FMR suggest that landlords are in a favorable position. The renter share, though modest, underscores the importance of rental housing and hints at ongoing challenges for those seeking affordable housing options.
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.