ZIP 85003 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 85003 in the Phoenix-Mesa-Chandler, AZ MSA FMR area.

$1,290Efficiency
$1,3901 bedroom
$1,6102 bedrooms
$2,1203 bedrooms
$2,3604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,290$1,161$1,419$1,390
1 bedroom$1,390$1,251$1,529$1,493
2 bedrooms$1,610$1,449$1,771$1,734
3 bedrooms$2,120$1,908$2,332$2,287
4 bedrooms$2,360$2,124$2,596$2,537

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 85003

$97,081average adjusted gross income per tax return (2022)
$68,486average salaries and wages per return
4,940tax returns filed
20%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00024.1%
$25,000 to $50,00023.9%
$50,000 to $75,00016.2%
$75,000 to $100,00010.1%
$100,000 to $200,00015.4%
$200,000 or more10.3%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 14.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 85003?

HUD's FY2027 Small Area FMRs for ZIP 85003 (Phoenix-Mesa-Chandler, AZ MSA) are $1,290 efficiency, $1,390 one bedroom, $1,610 two bedrooms, $2,120 three and $2,360 four bedrooms.

What payment standard can a housing authority set in ZIP 85003?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,449 to $1,771.

How affordable is rent in ZIP 85003?

Tax returns filed from ZIP 85003 reported an average adjusted gross income of $97,081 (2022). A two-bedroom unit at the Small Area FMR costs $19,320 a year, or 20% of that income.