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Maricopa County/Phoenix/85004

85004

ZIPSAFMR
Maricopa County, AZ
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,560$1,460
1 BR$1,680$1,730
2 BR$1,950$2,130
3 BR$2,590$2,770
4 BR$2,870$2,270
5 BR$3,300Not available
6 BR$3,796Not available
7 BR$4,365Not available
8 BR$5,020Not available

Purchase Price Calculator

Maximum purchase price
$254,601

Cost breakdown

+Likely effective rent$2,130
HUD FMR$1,950
Market rent$2,230
Est. payment standard (109%)Used$2,130
-Principal and interest-$1,287
Loan amount$203,681
Down payment$50,920
Rate6.50%
Term30 years
-Operating costs-$643
Property taxes-$255
Insurance-$175
Utilities$0
HOA$0
Management-$213
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,074(66.9% ROI)
Projected value
$274,177
Return breakdown
Property appreciation+$19,576
Loan principal paid down+$7,297
Rental cash flow+$7,200
5-year hold
+$58,470(114.8% ROI)
Projected value
$288,057
Return breakdown
Property appreciation+$33,457
Loan principal paid down+$13,013
Rental cash flow+$12,000
10-year hold
+$126,318(248.1% ROI)
Projected value
$325,910
Return breakdown
Property appreciation+$71,310
Loan principal paid down+$31,008
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
0.95
2 BR
0.87
3 BR
0.91
4 BR
1.26
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 85004 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85004 (Phoenix, AZ) is $1,950 a month. That is down 9.3% from $2,150 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, 85004 is tied for the 53rd-highest two-bedroom rent (county range $1,380–$2,600). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85004 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85004
BedroomsFY 2027Change90–110% range
Studio$1,560−8.2%$1,404–$1,716
1BR$1,680−9.2%$1,512–$1,848
2BR$1,950−9.3%$1,755–$2,145
3BR$2,590−9.8%$2,331–$2,849
4BR$2,870−9.7%$2,583–$3,157

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85004
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,560$1,680$1,950$2,590$2,870
FY 2026$1,700$1,850$2,150$2,870$3,180
FY 2025$1,780$1,950$2,270$3,050$3,420
FY 2024$1,690$1,850$2,170$2,940$3,340
FY 2023$1,460$1,590$1,890$2,590$2,950

Two-bedroom rent in nearby Maricopa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85004
85001$1,740−10.8%
85002$1,740−10.8%
85003$1,610−17.4%
85004Current$1,950—
85005$1,740−10.8%
85006$1,380−29.2%
85007$1,380−29.2%
85008$1,480−24.1%
85009$1,380−29.2%
85010$1,740−10.8%
85011$1,740−10.8%
85012$1,870−4.1%

Questions about ZIP 85004 rents

How much will Section 8 pay for a two-bedroom in ZIP 85004?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,950, that basic range is $1,755 to $2,145 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 85004 in?

ZIP 85004 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 85004 for FY 2027?

The two-bedroom FMR fell 9.3%, from $2,150 in FY 2026 to $1,950 in FY 2027. Since FY 2023 it has risen 3.2%.

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