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Maricopa County/Phoenix/85016

85016

ZIPSAFMR
Maricopa County, AZ
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,520$1,570
1 BR$1,650$1,820
2 BR$1,910$2,100
3 BR$2,550$2,810
4 BR$2,830$3,110
5 BR$3,254Not available
6 BR$3,743Not available
7 BR$4,304Not available
8 BR$4,950Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$1,910
Market rent$2,610
Est. payment standard (110%)Used$2,100
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.96
1 BR
0.85
2 BR
0.73
3 BR
0.69
4 BR
0.60
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 85016 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85016 (Phoenix, AZ) is $1,910 a month. That is down 9.9% from $2,120 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, 85016 is tied for the 60th-highest two-bedroom rent (county range $1,380–$2,600). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85016 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85016
BedroomsFY 2027Change90–110% range
Studio$1,520−9.5%$1,368–$1,672
1BR$1,650−9.8%$1,485–$1,815
2BR$1,910−9.9%$1,719–$2,101
3BR$2,550−9.9%$2,295–$2,805
4BR$2,830−9.9%$2,547–$3,113

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85016
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,520$1,650$1,910$2,550$2,830
FY 2026$1,680$1,830$2,120$2,830$3,140
FY 2025$1,730$1,900$2,210$2,970$3,330
FY 2024$1,570$1,720$2,020$2,740$3,110
FY 2023$1,410$1,540$1,830$2,510$2,860

Two-bedroom rent in nearby Maricopa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85016
85010$1,740−8.9%
85011$1,740−8.9%
85012$1,870−2.1%
85013$1,800−5.8%
85014$1,640−14.1%
85015$1,410−26.2%
85016Current$1,910—
85017$1,380−27.7%
85018$1,760−7.9%
85019$1,490−22.0%
85020$1,580−17.3%
85021$1,440−24.6%

Questions about ZIP 85016 rents

How much will Section 8 pay for a two-bedroom in ZIP 85016?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,910, that basic range is $1,719 to $2,101 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 85016 in?

ZIP 85016 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 85016 for FY 2027?

The two-bedroom FMR fell 9.9%, from $2,120 in FY 2026 to $1,910 in FY 2027. Since FY 2023 it has risen 4.4%.

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