85723

ZIPSAFMR

Pima County, AZ

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$870	$770	3.7%
1 BR	$970	$940	2.9%
2 BR	$1,250	$1,300	2.5%
3 BR	$1,730	$1,630	2.0%
4 BR	$1,960	$1,830	0.9%
5 BR	$2,254	Not available	0.9%
6 BR	$2,592	Not available	0.9%
7 BR	$2,981	Not available	0.9%
8 BR	$3,428	Not available	0.9%

Purchase Price Calculator

Maximum purchase price

$131,263

Cost breakdown

+Likely effective rent$1,300

HUD FMR$1,250

Market rent$1,320

Est. payment standard (104%)Used$1,300

-Principal and interest-$664

Loan amount$105,010

Down payment$26,253

Rate6.50%

Term30 years

-Operating costs-$436

Property taxes-$131

Insurance-$175

Utilities$0

HOA$0

Management-$130

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$21,055(80.2% ROI)

Projected value

$141,356

Return breakdown

Property appreciation+$10,093

Loan principal paid down+$3,762

Rental cash flow+$7,200

5-year hold

+$35,958(137.0% ROI)

Projected value

$148,512

Return breakdown

Property appreciation+$17,249

Loan principal paid down+$6,709

Rental cash flow+$12,000

10-year hold

+$76,751(292.4% ROI)

Projected value

$168,028

Return breakdown

Property appreciation+$36,765

Loan principal paid down+$15,987

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.13ratio

FMR$870

Market$770

vs market+$100

FMR is above market; underwrite to market rent.

1.13

1 BR

1.03ratio

FMR$970

Market$940

vs market+$30

FMR is near market; voucher and private rents are aligned.

1.03

2 BR

0.95ratio

FMR$1,250

Market$1,320

vs market-$70

FMR is near market; voucher and private rents are aligned.

0.95

3 BR

1.06ratio

FMR$1,730

Market$1,630

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.06

4 BR

1.07ratio

FMR$1,960

Market$1,830

vs market+$130

FMR is near market; voucher and private rents are aligned.

1.07

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 85723 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85723 (Tucson, AZ) is $1,250 a month. That is up 1.6% from $1,230 in FY 2026. Tucson is in the Tucson, AZ MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 66 ZIP codes in Pima County, 85723 has the 59th-highest two-bedroom rent (county range $1,100–$2,110).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85723
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$850	$870	+2.4%	$783–$957
1BR	$950	$970	+2.1%	$873–$1,067
2BR	$1,230	$1,250	+1.6%	$1,125–$1,375
3BR	$1,710	$1,730	+1.2%	$1,557–$1,903
4BR	$1,970	$1,960	−0.5%	$1,764–$2,156

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85723
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$870	$970	$1,250	$1,730	$1,960
FY 2026	$850	$950	$1,230	$1,710	$1,970
FY 2025	$830	$930	$1,210	$1,700	$1,990
FY 2024	$780	$890	$1,160	$1,630	$1,910
FY 2023	$790	$900	$1,180	$1,680	$1,960

Two-bedroom rent in nearby Pima County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 85723
85715	$1,620	+29.6%
85716	$1,340	+7.2%
85717	$1,410	+12.8%
85718	$1,420	+13.6%
85719	$1,370	+9.6%
85721	$1,410	+12.8%
85723Current	$1,250	—
85724	$1,410	+12.8%
85725	$1,410	+12.8%
85726	$1,410	+12.8%
85728	$1,410	+12.8%
85730	$1,470	+17.6%

Questions about ZIP 85723 rents

How much will Section 8 pay for a two-bedroom in ZIP 85723?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,250, that basic range is $1,125 to $1,375 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 85723 in?

ZIP 85723 is in the Tucson, 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 85723 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,230 in FY 2026 to $1,250 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 rent Tucson, AZ fair market rent AZ statewide rents What is SAFMR?Data sources