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Apache County/Vernon/85940

85940

ZIPSAFMR
Apache County, AZ
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$950$950
1 BR$1,030$1,030
2 BR$1,350$1,350
3 BR$1,670$1,670
4 BR$1,780$1,780
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$138,693

Cost breakdown

+Likely effective rent$1,350
HUD FMRUsed$1,350
Market rentN/A
Est. payment standardN/A
-Principal and interest-$701
Loan amount$110,954
Down payment$27,739
Rate6.50%
Term30 years
-Operating costs-$449
Property taxes-$139
Insurance-$175
Utilities$0
HOA$0
Management-$135
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,839(78.7% ROI)
Projected value
$149,357
Return breakdown
Property appreciation+$10,664
Loan principal paid down+$3,975
Rental cash flow+$7,200
5-year hold
+$37,314(134.5% ROI)
Projected value
$156,918
Return breakdown
Property appreciation+$18,225
Loan principal paid down+$7,089
Rental cash flow+$12,000
10-year hold
+$79,737(287.5% ROI)
Projected value
$177,539
Return breakdown
Property appreciation+$38,846
Loan principal paid down+$16,892
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
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Tax rate
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Mortgage rate
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ZIP 85940 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 85940 (Vernon, AZ) is $1,350 a month. That is down 4.9% from $1,420 in FY 2026. Vernon is in the Apache County, AZ non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,071. Among 31 ZIP codes in Apache County, 85940 has the 3rd-highest two-bedroom rent (county range $1,060–$1,610). The median county two-bedroom FMR in Arizona is $1,244, so ZIP 85940 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 85940
BedroomsFY 2027Change90–110% range
Studio$950−6.9%$855–$1,045
1BR$1,030−7.2%$927–$1,133
2BR$1,350−4.9%$1,215–$1,485
3BR$1,670−5.1%$1,503–$1,837
4BR$1,780−5.3%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 85940
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,030$1,350$1,670$1,780
FY 2026$1,020$1,110$1,420$1,760$1,880
FY 2025$1,100$1,170$1,530$1,890$2,030
FY 2024area FMR$716$804$1,057$1,417$1,461
FY 2023area FMR$618$703$925$1,233$1,284

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Apache County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 85940
85920$1,130−16.3%
85924$1,550+14.8%
85925$1,130−16.3%
85927$1,290−4.4%
85930$1,180−12.6%
85932$1,220−9.6%
85936$1,070−20.7%
85938$1,610+19.3%
85940Current$1,350—
85941$1,340−0.7%
86028$1,170−13.3%
86502$1,070−20.7%

Questions about ZIP 85940 rents

How much will Section 8 pay for a two-bedroom in ZIP 85940?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,071, which applies unless the housing authority uses Small Area FMRs, that basic range is $964 to $1,178 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. 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 85940 in?

ZIP 85940 is in the Apache County, AZ non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,071.

How much did fair market rent change in ZIP 85940 for FY 2027?

The two-bedroom FMR fell 4.9%, from $1,420 in FY 2026 to $1,350 in FY 2027. Since FY 2025 it has fallen 11.8%.

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