Location: McKinley County, NM | Metro: Apache County, AZ
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The market in ZIP code 86515 presents a dynamic scenario that is indicative of evolving housing pressures. With a Fair Market Rent (FMR) of $1,070, set for metro fiscal year 2026, and current market rents at $732 based on Census ACS data, there is a clear gap suggesting potential upward pressure on rental rates. The discrepancy between the FMR and the actual market rent points to an environment where demand could be catching up with supply, or supply might be insufficient to meet current needs.
A significant 48.9% of households in this area are renters, which signals a substantial portion of the population is in the rental market. This high renter share suggests ongoing long-term housing pressure as many residents are likely seeking affordable housing options. In areas with such a high percentage of renters, it's common to see increased competition for rental properties, which can lead to higher rents and shorter vacancy periods.
While the data on price-cut share, days on market (DOM), and median home value is currently unavailable, the existing indicators point towards a market that is in flux. The presence of a notable difference between FMR and current market rents, combined with a high renter share, implies that this area is experiencing changes that could benefit small-portfolio investors and landlords who position themselves to capitalize on these trends.
Landlords and small-portfolio investors should closely monitor rental rates and occupancy levels in ZIP 86515. As the rental market tightens, there will be opportunities to adjust pricing strategies to align with the increasing FMR, thereby maximizing returns. However, the need to balance these adjustments with the reality of current market rents is crucial to maintain occupancy and avoid unnecessary vacancies.
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.