Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Gray Mountain, AZ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Gray Mountain, AZ is $1,730 a month. That is down 9.9% from $1,920 in FY 2026. Gray Mountain is in the Flagstaff, AZ MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,729. The median county two-bedroom FMR in Arizona is $1,244, so Gray Mountain is 39% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Gray Mountain, AZ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,600
$1,450
−9.4%
$1,305–$1,595
1BR
$1,730
$1,590
−8.1%
$1,431–$1,749
2BR
$1,920
$1,730
−9.9%
$1,557–$1,903
3BR
$2,340
$2,150
−8.1%
$1,935–$2,365
4BR
$2,570
$2,320
−9.7%
$2,088–$2,552
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Gray Mountain, AZ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,450
$1,590
$1,730
$2,150
$2,320
FY 2026
$1,600
$1,730
$1,920
$2,340
$2,570
FY 2025
$1,560
$1,710
$1,940
$2,380
$2,660
FY 2024
$1,300
$1,380
$1,670
$2,020
$2,360
FY 2023
$1,130
$1,200
$1,480
$1,810
$2,190
Questions about Gray Mountain, AZ rents
How much will Section 8 pay for a two-bedroom in Gray Mountain, AZ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,729, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,556 to $1,902 a month; under the ZIP-level Small Area FMR of $1,730 it would be $1,557 to $1,903. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Gray Mountain, AZ in?
Gray Mountain, AZ is in the Flagstaff, AZ MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,729.
How much did fair market rent change in Gray Mountain, AZ for FY 2027?
The two-bedroom FMR fell 9.9%, from $1,920 in FY 2026 to $1,730 in FY 2027. Since FY 2023 it has risen 16.9%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set