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Maricopa County/Mesa/85215

85215

ZIPSAFMR
Maricopa County, AZ
Zillow

ZIP Investment Score

72Below average

095130300
BRFMR
Eff. Rent
0 BR$1,600$1,600
1 BR$1,710$1,710
2 BR$1,990$1,990
3 BR$2,620$2,620
4 BR$2,910$2,910
5 BR$3,346Not available
6 BR$3,848Not available
7 BR$4,426Not available
8 BR$5,090Not available

Purchase Price Calculator

Maximum purchase price
$233,797

Cost breakdown

+Likely effective rent$1,990
HUD FMRUsed$1,990
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,182
Loan amount$187,037
Down payment$46,759
Rate6.50%
Term30 years
-Operating costs-$608
Property taxes-$234
Insurance-$175
Utilities$0
HOA$0
Management-$199
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,878(68.2% ROI)
Projected value
$251,773
Return breakdown
Property appreciation+$17,977
Loan principal paid down+$6,701
Rental cash flow+$7,200
5-year hold
+$54,673(116.9% ROI)
Projected value
$264,519
Return breakdown
Property appreciation+$30,723
Loan principal paid down+$11,950
Rental cash flow+$12,000
10-year hold
+$117,957(252.3% ROI)
Projected value
$299,280
Return breakdown
Property appreciation+$65,483
Loan principal paid down+$28,474
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 85215 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85215 (Mesa, AZ) is $1,990 a month. That is down 7.0% from $2,140 in FY 2026. Mesa 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, 85215 is tied for the 44th-highest two-bedroom rent (county range $1,380–$2,600). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85215 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85215
BedroomsFY 2027Change90–110% range
Studio$1,600−5.9%$1,440–$1,760
1BR$1,710−7.1%$1,539–$1,881
2BR$1,990−7.0%$1,791–$2,189
3BR$2,620−8.1%$2,358–$2,882
4BR$2,910−8.2%$2,619–$3,201

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85215
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,600$1,710$1,990$2,620$2,910
FY 2026$1,700$1,840$2,140$2,850$3,170
FY 2025$1,810$1,990$2,310$3,110$3,480
FY 2024$1,800$1,980$2,320$3,140$3,570
FY 2023$1,690$1,850$2,190$3,000$3,420

Two-bedroom rent in nearby Maricopa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85215
85206$1,800−9.5%
85207$1,700−14.6%
85208$1,650−17.1%
85209$1,930−3.0%
85210$1,570−21.1%
85211$1,740−12.6%
85212$2,240+12.6%
85213$1,780−10.6%
85214$1,740−12.6%
85215Current$1,990—
85216$1,740−12.6%
85224$2,000+0.5%

Questions about ZIP 85215 rents

How much will Section 8 pay for a two-bedroom in ZIP 85215?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,990, that basic range is $1,791 to $2,189 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 85215 in?

ZIP 85215 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 85215 for FY 2027?

The two-bedroom FMR fell 7.0%, from $2,140 in FY 2026 to $1,990 in FY 2027. Since FY 2023 it has fallen 9.1%.

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