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Maricopa County/Phoenix/85003

85003

ZIPSAFMR
Maricopa County, AZ
Zillow

ZIP Investment Score

39Below average

095130300
BRFMR
Eff. Rent
0 BR$1,290$1,370
1 BR$1,390$1,530
2 BR$1,610$1,770
3 BR$2,120$2,200
4 BR$2,360$2,050
5 BR$2,714Not available
6 BR$3,121Not available
7 BR$3,589Not available
8 BR$4,128Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMR$1,610
Market rent$2,060
Est. payment standard (110%)Used$1,770
-Principal and interest-$1,017
Loan amount$160,884
Down payment$40,221
Rate6.50%
Term30 years
-Operating costs-$553
Property taxes-$201
Insurance-$175
Utilities$0
HOA$0
Management-$177
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,427(70.7% ROI)
Projected value
$216,568
Return breakdown
Property appreciation+$15,463
Loan principal paid down+$5,764
Rental cash flow+$7,200
5-year hold
+$48,706(121.1% ROI)
Projected value
$227,532
Return breakdown
Property appreciation+$26,427
Loan principal paid down+$10,279
Rental cash flow+$12,000
10-year hold
+$104,819(260.6% ROI)
Projected value
$257,431
Return breakdown
Property appreciation+$56,326
Loan principal paid down+$24,493
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.79
2 BR
0.78
3 BR
0.95
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 85003 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85003 (Phoenix, AZ) is $1,610 a month. That is down 6.9% from $1,730 in FY 2026. Phoenix is in the Phoenix-Mesa-Chandler, AZ MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 185 ZIP codes in Maricopa County, 85003 has the 147th-highest two-bedroom rent (county range $1,380–$2,600). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85003 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85003
BedroomsFY 2027Change90–110% range
Studio$1,290−5.8%$1,161–$1,419
1BR$1,390−6.7%$1,251–$1,529
2BR$1,610−6.9%$1,449–$1,771
3BR$2,120−8.2%$1,908–$2,332
4BR$2,360−7.8%$2,124–$2,596

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85003
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,290$1,390$1,610$2,120$2,360
FY 2026$1,370$1,490$1,730$2,310$2,560
FY 2025$1,430$1,570$1,820$2,450$2,740
FY 2024$1,330$1,460$1,710$2,320$2,630
FY 2023$1,170$1,280$1,520$2,080$2,370

Two-bedroom rent in nearby Maricopa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85003
85001$1,740+8.1%
85002$1,740+8.1%
85003Current$1,610—
85004$1,950+21.1%
85005$1,740+8.1%
85006$1,380−14.3%
85007$1,380−14.3%
85008$1,480−8.1%
85009$1,380−14.3%
85010$1,740+8.1%
85011$1,740+8.1%
85012$1,870+16.1%

Questions about ZIP 85003 rents

How much will Section 8 pay for a two-bedroom in ZIP 85003?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,610, that basic range is $1,449 to $1,771 a month. 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 ZIP 85003 in?

ZIP 85003 is in the Phoenix-Mesa-Chandler, AZ MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 85003 for FY 2027?

The two-bedroom FMR fell 6.9%, from $1,730 in FY 2026 to $1,610 in FY 2027. Since FY 2023 it has risen 5.9%.

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

County fair market rentPhoenix, AZ fair market rentAZ statewide rentsWhat is SAFMR?Data sources