ZIP 85340 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 85340 in the Phoenix-Mesa-Chandler, AZ MSA FMR area.

$1,670Efficiency
$1,7901 bedroom
$2,0802 bedrooms
$2,7403 bedrooms
$3,0504 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,670$1,503$1,837$1,390
1 bedroom$1,790$1,611$1,969$1,493
2 bedrooms$2,080$1,872$2,288$1,734
3 bedrooms$2,740$2,466$3,014$2,287
4 bedrooms$3,050$2,745$3,355$2,537

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

Income in ZIP 85340

$106,128average adjusted gross income per tax return (2022)
$71,315average salaries and wages per return
18,730tax returns filed
24%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00021.5%
$25,000 to $50,00020.2%
$50,000 to $75,00013.9%
$75,000 to $100,00010.7%
$100,000 to $200,00023.3%
$200,000 or more10.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 85340?

HUD's FY2027 Small Area FMRs for ZIP 85340 (Phoenix-Mesa-Chandler, AZ MSA) are $1,670 efficiency, $1,790 one bedroom, $2,080 two bedrooms, $2,740 three and $3,050 four bedrooms.

What payment standard can a housing authority set in ZIP 85340?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,872 to $2,288.

How affordable is rent in ZIP 85340?

Tax returns filed from ZIP 85340 reported an average adjusted gross income of $106,128 (2022). A two-bedroom unit at the Small Area FMR costs $24,960 a year, or 24% of that income.