Location: Navajo County, AZ | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The median income in ZIP code 86505 stands at $28,547, which places significant constraints on households when it comes to affording the market rate rent of $538 per month. This figure represents the typical rent a household might pay for a modest apartment in the area. However, the Family Monthly Income (FMI) standard for Housing Choice Vouchers, set at $1,250 for the metro area in fiscal year 2026, starkly contrasts with the local market rate. The discrepancy between the median income and the voucher payment standard highlights a substantial affordability gap.
With only 16.8% of the 6,779 residents being renters, landlords must consider the limited pool of potential tenants who can afford market rates without assistance. This scarcity of cash-paying renters increases competition among landlords, particularly those relying solely on market-rate rents. Landlords looking to maximize occupancy and stability should evaluate the benefits of accepting Housing Choice Vouchers.
The takeaway for landlords is clear: accepting vouchers can be a strategic move to attract and retain tenants in an area where the median income is significantly lower than the voucher payment standard. By doing so, landlords can mitigate the risk of vacancies and tap into a federal program that guarantees timely payments. For small-portfolio investors, this strategy can provide a steady and reliable source of income, ensuring long-term financial security despite the challenging economic landscape for renters in ZIP 86505.
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.