Location: Cibola County, NM | Metro: Cibola County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 87007, located within Cibola County, NM, presents unique characteristics when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for 87007 is set at $990 for fiscal year 2026, which serves as a benchmark for affordable housing standards but lacks direct comparison data for market rent and home values.
A key point of interest is the 0.0% renter share in 87007, indicating that there are no recorded renters in this ZIP code. This stands in stark contrast to what might be expected in a typical ZIP code within Cibola County, where some level of rental activity is usual. The absence of renters suggests that 87007 is predominantly owner-occupied, possibly due to its rural nature or limited housing stock available for rent.
The lack of specific market rent and home value data makes it challenging to categorize 87007 definitively as either a value pocket, mid-tier neighborhood, or premium sub-market within its metro area. However, given the FMR of $990, we can infer that if market rents were available, they would likely be lower or equal to this figure, aligning with the concept of an affordable housing pocket. This inference is based on the understanding that FMRs are designed to reflect the cost of housing that is affordable to low-income families.
The 0.0% renter share combined with the unavailability of home value data suggests that 87007 may not be a significant target for Section 8 housing assistance programs. Typically, a high renter share with below-average home values signals a potential sweet spot for Section 8 properties, as it indicates a concentration of rental units that may be eligible for subsidized housing benefits. In the case of 87007, the absence of renters means that such subsidies would not be applicable to a large portion of the housing stock.
To summarize, 87007 appears to be a niche area within the Cibola County, NM metro, characterized by its owner-occupied housing structure and an FMR of $990. While it may represent an affordable option for homeownership, it does not present the typical profile of a Section 8-friendly neighborhood due to the absence of rental activity.
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.