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 |
U.S. Census Bureau data (2024)
The ZIP code 86445 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, as the market rent is not available but the Fair Market Rent (FMR) for FY 2024 stands at $1210. This can lead to higher costs associated with frequent move-ins and move-outs, including cleaning, repairs, and administrative tasks. Vacancy exposure is another issue due to the lack of data on days on market (DOM), which makes it difficult to predict how long properties might remain vacant between tenancies. This uncertainty can impact cash flow negatively, especially if vacancies persist longer than expected.
The absence of data on typical home values and median incomes in ZIP 86445 suggests a potential for deferred maintenance issues. Without knowing the financial health of homeowners, it's challenging to assess their ability to maintain properties adequately, which is crucial for landlords who need to ensure their rental units meet housing quality standards set by the program. Additionally, the unknown economic conditions could affect the willingness of tenants to comply with lease terms and the likelihood of receiving timely rent payments.
However, the 0.0% renter share in ZIP 86445 does offer some advantages. High renter density typically correlates with increased demand for housing vouchers, which can provide a stable source of income for landlords. Despite the lack of available data complicating the assessment, the low renter share implies that competition for voucher holders may be less intense, potentially leading to fewer applications and a more straightforward selection process. This could result in landlords securing tenants who are committed to the program and willing to adhere to its requirements.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.