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Maricopa County/Gilbert/85297

85297

ZIPSAFMR
Maricopa County, AZ
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$1,840$1,760
1 BR$1,980$1,650
2 BR$2,300$1,980
3 BR$3,030$2,190
4 BR$3,370$2,630
5 BR$3,875Not available
6 BR$4,457Not available
7 BR$5,125Not available
8 BR$5,894Not available

Purchase Price Calculator

Maximum purchase price
$232,311

Cost breakdown

+Likely effective rent$1,980
HUD FMR$2,300
Market rentUsed$1,980
Est. payment standard (91%)$2,090
-Principal and interest-$1,175
Loan amount$185,849
Down payment$46,462
Rate6.50%
Term30 years
-Operating costs-$605
Property taxes-$232
Insurance-$175
Utilities$0
HOA$0
Management-$198
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,721(68.3% ROI)
Projected value
$250,173
Return breakdown
Property appreciation+$17,863
Loan principal paid down+$6,659
Rental cash flow+$7,200
5-year hold
+$54,401(117.1% ROI)
Projected value
$262,838
Return breakdown
Property appreciation+$30,528
Loan principal paid down+$11,874
Rental cash flow+$12,000
10-year hold
+$117,360(252.6% ROI)
Projected value
$297,377
Return breakdown
Property appreciation+$65,067
Loan principal paid down+$28,293
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.05
1 BR
1.20
2 BR
1.16
3 BR
1.38
4 BR
1.28
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 85297 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85297 (Gilbert, AZ) is $2,300 a month. That is down 7.3% from $2,480 in FY 2026. Gilbert 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, 85297 is tied for the 16th-highest two-bedroom rent (county range $1,380–$2,600). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85297 is 85% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85297
BedroomsFY 2027Change90–110% range
Studio$1,840−6.1%$1,656–$2,024
1BR$1,980−7.5%$1,782–$2,178
2BR$2,300−7.3%$2,070–$2,530
3BR$3,030−8.5%$2,727–$3,333
4BR$3,370−8.7%$3,033–$3,707

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85297
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,840$1,980$2,300$3,030$3,370
FY 2026$1,960$2,140$2,480$3,310$3,690
FY 2025$2,130$2,340$2,720$3,660$4,090
FY 2024$2,080$2,270$2,670$3,620$4,110
FY 2023$1,950$2,130$2,530$3,470$3,950

Two-bedroom rent in nearby Maricopa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85297
85288$1,740−24.3%
85295$2,130−7.4%
85296$2,290−0.4%
85297Current$2,300—
85298$2,600+13.0%
85299$1,740−24.3%
85301$1,400−39.1%
85302$1,390−39.6%
85303$1,690−26.5%
85304$1,550−32.6%
85305$2,020−12.2%
85306$1,710−25.7%

Questions about ZIP 85297 rents

How much will Section 8 pay for a two-bedroom in ZIP 85297?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,300, that basic range is $2,070 to $2,530 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 85297 in?

ZIP 85297 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 85297 for FY 2027?

The two-bedroom FMR fell 7.3%, from $2,480 in FY 2026 to $2,300 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 rentGilbert, AZ fair market rentAZ statewide rentsWhat is SAFMR?Data sources