Location: McKinley County, NM | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The ZIP code 86504, with a population of 5,760, is notably renter-heavy, with 33.0% of residents being renters. This percentage indicates a significant portion of the population that could potentially rely on housing vouchers such as those provided through the Section 8 program. The median household income in this area is $46,573, which suggests that the typical market rent of $844 consumes a substantial share of local incomes.
To be precise, at $844 per month, the average rent represents approximately 18.1% of the median annual household income. However, when comparing this to the Fair Market Rent (FMR) set at $1,230 for fiscal year 2026, it becomes evident that the current market rent is below the FMR, indicating a potential opportunity for landlords to adjust their rents closer to the FMR without significantly deterring voucher holders.
The discrepancy between the market rent and the FMR also implies that there is likely a robust demand for rental properties that accept Section 8 vouchers. Landlords in ZIP 86504 should anticipate a tenant pool that includes individuals and families who heavily rely on government assistance to secure housing. These tenants will typically have a documented need for financial aid due to lower income levels, and they will be looking for affordable housing options that align with their budget constraints.
In summary, ZIP 86504 presents itself as an area with a strong presence of renters, making it suitable for landlords willing to accommodate Section 8 voucher holders. With the market rent well below the FMR, there is a clear opportunity for landlords to attract tenants who are financially supported by the government, ensuring steady occupancy rates while operating within the bounds of reasonable rent increases.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.