Location: Cibola County, NM | Metro: Cibola County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 87005 presents a unique set of challenges and opportunities for both renters and landlords. The median income data is currently unavailable, which makes it difficult to assess the overall financial health of households in this area. Similarly, the market rate for rent is also not available, leaving a significant gap in understanding the local rental market dynamics.
However, we can analyze the situation based on the Fair Market Rent (FMR) set at $1,010 for the metro area in fiscal year 2026. This figure represents the standard payment amount for housing vouchers in the region. Given the 34.8% of residents who are renters and a total population of 133, the number of potential voucher users is relatively small, but their impact on the rental market cannot be overlooked.
The affordability gap between the unknown market rate and the FMR of $1,010 could indicate a competitive landscape for landlords. If the market rate is significantly higher than the FMR, many renters might lean towards using housing vouchers to find affordable accommodation. This scenario would suggest that landlords in ZIP 87005 must consider the benefits and drawbacks of accepting voucher payments versus relying solely on cash-paying tenants.
Takeaway for landlords: Accepting housing vouchers can be a strategic move in ZIP 87005, given the potential for a substantial portion of the renting population to prefer this method of payment due to its alignment with the FMR. While voucher payments may offer a steady stream of income, landlords should weigh this against the administrative complexities and the limited pool of voucher holders. Understanding the local rental market and the financial capabilities of your tenant base will be crucial in deciding whether to prioritize voucher or cash-pay strategies.
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.