Arizona (AZ)

STATESAFMR

Found 505 ZIPs

State Median Investment Score

72Below average

095130300

BR	Rent	3Y CAGR
0 BR	$725 - $2,080Median: $1,080	1.4%
1 BR	$792 - $2,240Median: $1,242	0.8%
2 BR	$1,038 - $2,600Median: $1,550	0.5%
3 BR	$1,250 - $3,430Median: $2,060	0.4%
4 BR	$1,485 - $3,800Median: $2,263	-0.1%

Market Alignment

Studio

Studio- 74 ZIPs

0.41-0.64ratio range

Median FMR$1,400

Median Market$2,360

vs market-$960

FMR is below market; voucher rent may lag private rents.

Studio- 12 ZIPs

0.65-0.68ratio range

Median FMR$1,079

Median Market$1,605

vs market-$526

FMR is below market; voucher rent may lag private rents.

Studio- 14 ZIPs

0.70-0.72ratio range

Median FMR$1,079

Median Market$1,520

vs market-$441

FMR is below market; voucher rent may lag private rents.

Studio- 11 ZIPs

0.73-0.77ratio range

Median FMR$953

Median Market$1,250

vs market-$297

FMR is below market; voucher rent may lag private rents.

Studio- 11 ZIPs

0.78-0.81ratio range

Median FMR$1,440

Median Market$1,820

vs market-$380

FMR is below market; voucher rent may lag private rents.

Studio- 13 ZIPs

0.82-0.86ratio range

Median FMR$1,190

Median Market$1,400

vs market-$210

FMR is below market; voucher rent may lag private rents.

Studio- 25 ZIPs

0.86-0.90ratio range

Median FMR$1,320

Median Market$1,500

vs market-$180

FMR is below market; voucher rent may lag private rents.

Studio- 15 ZIPs

0.90-0.94ratio range

Median FMR$1,290

Median Market$1,410

vs market-$120

FMR is near market; voucher and private rents are aligned.

Studio- 19 ZIPs

0.94-0.98ratio range

Median FMR$1,400

Median Market$1,470

vs market-$70

FMR is near market; voucher and private rents are aligned.

Studio- 12 ZIPs

0.98-1.02ratio range

Median FMR$1,375

Median Market$1,370

vs market+$5

FMR is near market; voucher and private rents are aligned.

Studio- 20 ZIPs

1.02-1.06ratio range

Median FMR$1,120

Median Market$1,075

vs market+$45

FMR is near market; voucher and private rents are aligned.

Studio- 24 ZIPs

1.06-1.10ratio range

Median FMR$1,415

Median Market$1,305

vs market+$110

FMR is near market; voucher and private rents are aligned.

Studio- 18 ZIPs

1.10-1.15ratio range

Median FMR$1,410

Median Market$1,250

vs market+$160

FMR is above market; underwrite to market rent.

Studio- 19 ZIPs

1.15-1.20ratio range

Median FMR$1,450

Median Market$1,220

vs market+$230

FMR is above market; underwrite to market rent.

Studio- 5 ZIPs

1.20-1.22ratio range

Median FMR$1,930

Median Market$1,590

vs market+$340

FMR is above market; underwrite to market rent.

Studio- 7 ZIPs

1.25-1.30ratio range

Median FMR$1,440

Median Market$1,140

vs market+$300

FMR is above market; underwrite to market rent.

Studio- 11 ZIPs

1.30-1.35ratio range

Median FMR$1,400

Median Market$1,060

vs market+$340

FMR is above market; underwrite to market rent.

Studio- 2 ZIPs

1.39-1.56ratio range

Median FMR$1,230

Median Market$835

vs market+$395

FMR is above market; underwrite to market rent.

0.41-1.56

1 BR

1 BR- 64 ZIPs

0.42-0.63ratio range

Median FMR$1,500

Median Market$2,370

vs market-$870

FMR is below market; voucher rent may lag private rents.

1 BR- 11 ZIPs

0.64-0.69ratio range

Median FMR$1,100

Median Market$1,710

vs market-$610

FMR is below market; voucher rent may lag private rents.

1 BR- 13 ZIPs

0.69-0.73ratio range

Median FMR$1,100

Median Market$1,600

vs market-$500

FMR is below market; voucher rent may lag private rents.

1 BR- 14 ZIPs

0.73-0.77ratio range

Median FMR$1,242

Median Market$1,645

vs market-$403

FMR is below market; voucher rent may lag private rents.

1 BR- 13 ZIPs

0.78-0.81ratio range

Median FMR$1,242

Median Market$1,570

vs market-$328

FMR is below market; voucher rent may lag private rents.

1 BR- 18 ZIPs

0.82-0.86ratio range

Median FMR$1,251

Median Market$1,510

vs market-$259

FMR is below market; voucher rent may lag private rents.

1 BR- 21 ZIPs

0.86-0.90ratio range

Median FMR$1,270

Median Market$1,420

vs market-$150

FMR is below market; voucher rent may lag private rents.

1 BR- 19 ZIPs

0.90-0.94ratio range

Median FMR$1,420

Median Market$1,540

vs market-$120

FMR is near market; voucher and private rents are aligned.

1 BR- 31 ZIPs

0.94-0.98ratio range

Median FMR$1,540

Median Market$1,580

vs market-$40

FMR is near market; voucher and private rents are aligned.

1 BR- 15 ZIPs

0.99-1.02ratio range

Median FMR$1,330

Median Market$1,340

vs market-$10

FMR is near market; voucher and private rents are aligned.

1 BR- 25 ZIPs

1.02-1.06ratio range

Median FMR$1,530

Median Market$1,480

vs market+$50

FMR is near market; voucher and private rents are aligned.

1 BR- 12 ZIPs

1.06-1.10ratio range

Median FMR$1,570

Median Market$1,465

vs market+$105

FMR is near market; voucher and private rents are aligned.

1 BR- 20 ZIPs

1.10-1.15ratio range

Median FMR$1,485

Median Market$1,310

vs market+$175

FMR is above market; underwrite to market rent.

1 BR- 12 ZIPs

1.15-1.20ratio range

Median FMR$1,815

Median Market$1,540

vs market+$275

FMR is above market; underwrite to market rent.

1 BR- 10 ZIPs

1.20-1.24ratio range

Median FMR$1,530

Median Market$1,255

vs market+$275

FMR is above market; underwrite to market rent.

1 BR- 4 ZIPs

1.25-1.30ratio range

Median FMR$1,830

Median Market$1,420

vs market+$410

FMR is above market; underwrite to market rent.

1 BR- 1 ZIP

1.30ratio

FMR$1,340

Market$1,030

vs market+$310

FMR is above market; underwrite to market rent.

1 BR- 6 ZIPs

1.36-1.43ratio range

Median FMR$1,865

Median Market$1,350

vs market+$515

FMR is above market; underwrite to market rent.

0.42-1.43

2 BR

2 BR- 14 ZIPs

0.46-0.64ratio range

Median FMR$1,640

Median Market$2,865

vs market-$1,226

FMR is below market; voucher rent may lag private rents.

2 BR- 7 ZIPs

0.65-0.68ratio range

Median FMR$1,264

Median Market$1,880

vs market-$616

FMR is below market; voucher rent may lag private rents.

2 BR- 14 ZIPs

0.69-0.73ratio range

Median FMR$1,650

Median Market$2,325

vs market-$676

FMR is below market; voucher rent may lag private rents.

2 BR- 64 ZIPs

0.73-0.77ratio range

Median FMR$1,740

Median Market$2,270

vs market-$530

FMR is below market; voucher rent may lag private rents.

2 BR- 24 ZIPs

0.77-0.81ratio range

Median FMR$1,550

Median Market$1,930

vs market-$380

FMR is below market; voucher rent may lag private rents.

2 BR- 25 ZIPs

0.81-0.86ratio range

Median FMR$1,550

Median Market$1,810

vs market-$260

FMR is below market; voucher rent may lag private rents.

2 BR- 30 ZIPs

0.86-0.90ratio range

Median FMR$1,545

Median Market$1,740

vs market-$195

FMR is below market; voucher rent may lag private rents.

2 BR- 24 ZIPs

0.90-0.94ratio range

Median FMR$1,655

Median Market$1,800

vs market-$145

FMR is near market; voucher and private rents are aligned.

2 BR- 21 ZIPs

0.95-0.98ratio range

Median FMR$1,660

Median Market$1,720

vs market-$60

FMR is near market; voucher and private rents are aligned.

2 BR- 24 ZIPs

0.98-1.01ratio range

Median FMR$1,675

Median Market$1,690

vs market-$15

FMR is near market; voucher and private rents are aligned.

2 BR- 19 ZIPs

1.02-1.06ratio range

Median FMR$1,750

Median Market$1,670

vs market+$80

FMR is near market; voucher and private rents are aligned.

2 BR- 15 ZIPs

1.06-1.09ratio range

Median FMR$2,050

Median Market$1,910

vs market+$140

FMR is near market; voucher and private rents are aligned.

2 BR- 11 ZIPs

1.11-1.14ratio range

Median FMR$1,880

Median Market$1,650

vs market+$230

FMR is above market; underwrite to market rent.

2 BR- 8 ZIPs

1.15-1.19ratio range

Median FMR$2,205

Median Market$1,875

vs market+$330

FMR is above market; underwrite to market rent.

2 BR- 6 ZIPs

1.20-1.23ratio range

Median FMR$2,005

Median Market$1,665

vs market+$340

FMR is above market; underwrite to market rent.

2 BR- 2 ZIPs

1.26-1.30ratio range

Median FMR$2,255

Median Market$1,770

vs market+$485

FMR is above market; underwrite to market rent.

2 BR- 1 ZIP

1.31ratio

FMR$1,880

Market$1,440

vs market+$440

FMR is above market; underwrite to market rent.

0.46-1.31

3 BR

3 BR- 4 ZIPs

0.52-0.64ratio range

Median FMR$2,245

Median Market$3,950

vs market-$1,705

FMR is below market; voucher rent may lag private rents.

3 BR- 7 ZIPs

0.65-0.68ratio range

Median FMR$1,684

Median Market$2,550

vs market-$866

FMR is below market; voucher rent may lag private rents.

3 BR- 7 ZIPs

0.69-0.72ratio range

Median FMR$2,320

Median Market$3,300

vs market-$980

FMR is below market; voucher rent may lag private rents.

3 BR- 6 ZIPs

0.73-0.76ratio range

Median FMR$1,719

Median Market$2,310

vs market-$592

FMR is below market; voucher rent may lag private rents.

3 BR- 11 ZIPs

0.77-0.81ratio range

Median FMR$1,910

Median Market$2,420

vs market-$510

FMR is below market; voucher rent may lag private rents.

3 BR- 5 ZIPs

0.82-0.86ratio range

Median FMR$2,190

Median Market$2,570

vs market-$380

FMR is below market; voucher rent may lag private rents.

3 BR- 12 ZIPs

0.86-0.90ratio range

Median FMR$2,128

Median Market$2,400

vs market-$273

FMR is below market; voucher rent may lag private rents.

3 BR- 17 ZIPs

0.91-0.94ratio range

Median FMR$2,100

Median Market$2,270

vs market-$170

FMR is near market; voucher and private rents are aligned.

3 BR- 71 ZIPs

0.94-0.98ratio range

Median FMR$2,300

Median Market$2,420

vs market-$120

FMR is near market; voucher and private rents are aligned.

3 BR- 13 ZIPs

0.98-1.02ratio range

Median FMR$2,280

Median Market$2,260

vs market+$20

FMR is near market; voucher and private rents are aligned.

3 BR- 24 ZIPs

1.02-1.06ratio range

Median FMR$2,010

Median Market$1,950

vs market+$60

FMR is near market; voucher and private rents are aligned.

3 BR- 15 ZIPs

1.06-1.10ratio range

Median FMR$2,230

Median Market$2,080

vs market+$150

FMR is near market; voucher and private rents are aligned.

3 BR- 25 ZIPs

1.10-1.15ratio range

Median FMR$1,950

Median Market$1,760

vs market+$190

FMR is above market; underwrite to market rent.

3 BR- 18 ZIPs

1.15-1.20ratio range

Median FMR$2,215

Median Market$1,895

vs market+$320

FMR is above market; underwrite to market rent.

3 BR- 19 ZIPs

1.20-1.25ratio range

Median FMR$2,550

Median Market$2,050

vs market+$500

FMR is above market; underwrite to market rent.

3 BR- 9 ZIPs

1.25-1.30ratio range

Median FMR$2,440

Median Market$1,950

vs market+$490

FMR is above market; underwrite to market rent.

3 BR- 10 ZIPs

1.30-1.34ratio range

Median FMR$2,695

Median Market$2,050

vs market+$645

FMR is above market; underwrite to market rent.

3 BR- 36 ZIPs

1.35-1.71ratio range

Median FMR$2,860

Median Market$1,940

vs market+$920

FMR is above market; underwrite to market rent.

0.52-1.71

4 BR

4 BR- 14 ZIPs

0.42-0.64ratio range

Median FMR$2,565

Median Market$4,565

vs market-$2,000

FMR is below market; voucher rent may lag private rents.

4 BR- 7 ZIPs

0.66-0.69ratio range

Median FMR$2,190

Median Market$3,210

vs market-$1,020

FMR is below market; voucher rent may lag private rents.

4 BR- 8 ZIPs

0.69-0.72ratio range

Median FMR$1,917

Median Market$2,710

vs market-$793

FMR is below market; voucher rent may lag private rents.

4 BR- 10 ZIPs

0.74-0.77ratio range

Median FMR$2,595

Median Market$3,450

vs market-$855

FMR is below market; voucher rent may lag private rents.

4 BR- 7 ZIPs

0.77-0.81ratio range

Median FMR$2,230

Median Market$2,760

vs market-$530

FMR is below market; voucher rent may lag private rents.

4 BR- 14 ZIPs

0.82-0.85ratio range

Median FMR$2,361

Median Market$2,810

vs market-$449

FMR is below market; voucher rent may lag private rents.

4 BR- 18 ZIPs

0.86-0.90ratio range

Median FMR$2,263

Median Market$2,600

vs market-$337

FMR is below market; voucher rent may lag private rents.

4 BR- 22 ZIPs

0.90-0.94ratio range

Median FMR$2,263

Median Market$2,450

vs market-$187

FMR is near market; voucher and private rents are aligned.

4 BR- 15 ZIPs

0.94-0.98ratio range

Median FMR$2,260

Median Market$2,330

vs market-$70

FMR is near market; voucher and private rents are aligned.

4 BR- 68 ZIPs

0.98-1.02ratio range

Median FMR$2,550

Median Market$2,600

vs market-$50

FMR is near market; voucher and private rents are aligned.

4 BR- 12 ZIPs

1.02-1.05ratio range

Median FMR$2,267

Median Market$2,210

vs market+$57

FMR is near market; voucher and private rents are aligned.

4 BR- 8 ZIPs

1.06-1.10ratio range

Median FMR$2,345

Median Market$2,195

vs market+$150

FMR is near market; voucher and private rents are aligned.

4 BR- 18 ZIPs

1.10-1.15ratio range

Median FMR$2,500

Median Market$2,255

vs market+$245

FMR is above market; underwrite to market rent.

4 BR- 18 ZIPs

1.15-1.20ratio range

Median FMR$2,430

Median Market$2,090

vs market+$340

FMR is above market; underwrite to market rent.

4 BR- 13 ZIPs

1.20-1.25ratio range

Median FMR$2,550

Median Market$2,070

vs market+$480

FMR is above market; underwrite to market rent.

4 BR- 19 ZIPs

1.25-1.30ratio range

Median FMR$2,500

Median Market$1,970

vs market+$530

FMR is above market; underwrite to market rent.

4 BR- 8 ZIPs

1.30-1.35ratio range

Median FMR$3,460

Median Market$2,620

vs market+$840

FMR is above market; underwrite to market rent.

4 BR- 31 ZIPs

1.35-1.67ratio range

Median FMR$3,070

Median Market$2,120

vs market+$950

FMR is above market; underwrite to market rent.

0.42-1.67

0.700.800.901.001.101.201.30aligned range

Bedroom curve

Rankings

Market Explorer

Counties, cities, and ZIPs in Arizona.

Browse rankings

Trends

Market trends

HUD rent changes, rent against home values, and where it cash-flows.

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Counties

Ranked by Investment Score (vs state median)

County map

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Arizona fair market rent by county, FY 2027

HUD's FY 2027 fair market rents cover 15 counties in Arizona. The median county two-bedroom FMR is $1,244. That is down 8.9% from $1,365 in FY 2026. Two-bedroom FMRs run from $1,038 in La Paz County to $1,734 in Maricopa County. 7 HUD metropolitan FMR areas cover 8 of those counties; each county in the same metro area shares one FMR. 282 ZIP codes in 2 metro areas must use Small Area FMRs, so voucher payment standards there are set by ZIP code.

Two-bedroom FMR by county

FY 2027 two-bedroom fair market rent by county in Arizona
County	2BR	Change	HUD FMR area
Maricopa County	$1,734	−5.7%	Phoenix-Mesa-Chandler, AZ MSA
Pinal County	$1,734	−5.7%	Phoenix-Mesa-Chandler, AZ MSA
Coconino County	$1,729	−10.0%	Flagstaff, AZ MSA
Yavapai County	$1,550	−5.3%	Prescott Valley-Prescott, AZ MSA
Pima County	$1,405	+0.2%	Tucson, AZ MSA
Gila County	$1,380	−6.7%	Non-metro
Navajo County	$1,264	−3.4%	Non-metro
Yuma County	$1,244	−10.0%	Yuma, AZ MSA
Mohave County	$1,229	−10.0%	Lake Havasu City-Kingman, AZ MSA
Graham County	$1,159	−6.8%	Non-metro
Cochise County	$1,153	−8.3%	Sierra Vista-Douglas, AZ MSA
Apache County	$1,071	−8.9%	Non-metro
Greenlee County	$1,043	−9.9%	Non-metro
Santa Cruz County	$1,041	−7.8%	Non-metro
La Paz County	$1,038	−10.0%	Non-metro

HUD metro FMR areas

FY 2027 two-bedroom fair market rent by HUD metro area in Arizona
Metro area	Counties	2BR
Phoenix-Mesa-Chandler, AZ MSA	2	$1,734
Flagstaff, AZ MSA	1	$1,729
Prescott Valley-Prescott, AZ MSA	1	$1,550
Tucson, AZ MSA	1	$1,405
Yuma, AZ MSA	1	$1,244
Lake Havasu City-Kingman, AZ MSA	1	$1,229
Sierra Vista-Douglas, AZ MSA	1	$1,153

Questions about Arizona rents

What is the fair market rent in Arizona?

HUD sets fair market rents by metro area and county, not statewide. For FY 2027 the median county two-bedroom FMR in Arizona is $1,244. Look up the county or ZIP code to see the value that applies to a specific property.

Which Arizona counties have the highest fair market rent?

For FY 2027, the highest two-bedroom FMRs are in Maricopa County ($1,734), Pinal County ($1,734), Coconino County ($1,729).

Does Arizona use Small Area Fair Market Rents?

Yes, in part. HUD requires Small Area FMRs in 282 ZIP codes across the Phoenix-Mesa-Chandler, AZ MSA and Tucson, AZ MSA. Elsewhere, housing authorities use the metro or county FMR unless they choose to adopt Small Area FMRs.

Source: HUD FY 2027 Fair Market Rents. Change compares each county's two-bedroom FMR with FY 2026.

Arizona counties Arizona cities Arizona ZIP codes What is FMR?

Data source: U.S. Department of Housing and Urban Development (HUD)

Fiscal Year 2027