Location: Apache County, AZ | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 86540 represents a renter-heavy area with significant demand for housing vouchers. With a population of 1,220, 22.8% of residents are renters, indicating a notable portion of the community relies on rental housing. This percentage suggests that there is a substantial base of potential tenants who might benefit from Section 8 vouchers.
The median household income in this ZIP is $24,271, which is notably lower than the Fair Market Rent (FMR) of $1,080 for the metro area (as of FY 2026). Given the typical market rent of $520, we can calculate that this represents approximately 21.4% of the median household income. In other words, a household earning the median income would spend just over one-fifth of their income on rent at this price point, which is within the affordability range set by HUD guidelines for low-income families.
Comparing the market rent of $520 to the FMR of $1,080 further underscores the economic disparity in the area. The FMR is nearly double the current market rent, highlighting that the rental market in ZIP 86540 is significantly below the metro average, making it an attractive option for those seeking affordable housing.
A landlord in this ZIP should expect a tenant pool primarily composed of low-income individuals and families. These tenants will likely be seeking affordable rents that do not exceed 30% of their income, aligning well with the current market conditions. Many of these prospective tenants will have Section 8 vouchers, enabling them to afford the rental market rates while still maintaining a significant portion of their income for other necessities.
In summary, ZIP 86540 is a renter-heavy area with strong demand for housing vouchers. The median income level supports a market rent of $520, which is 21.4% of the median household income. Landlords should prepare for a tenant base that is heavily reliant on Section 8 vouchers for housing stability.
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.