Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,230 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
U.S. Census Bureau data (2024)
In ZIP 87008 in Cedar Crest, NM, investing in Section 8 properties comes with notable risks that must be carefully considered. Tenant turnover is a significant concern due to the substantial difference between the market rent of $952 and the Fair Market Rent (FMR) of $1590 for FY 2024. This gap can lead to higher turnover rates as tenants may prefer homes that offer the maximum rental subsidy. Additionally, vacancy exposure is a critical issue, as the average days on market (DOM) is not available, indicating potential difficulty in maintaining occupancy levels. The typical home value in the area is $460,102, while the median income stands at $85,673. These figures suggest a deferred-maintenance exposure, as homeowners may struggle to keep up with necessary repairs and improvements.
Despite these challenges, the high concentration of renters—comprising 7.3% of the population—typically translates into strong demand for housing vouchers. This demand can mitigate some of the risks associated with vacancy and turnover, providing a stable tenant base. The combination of high renter density and the availability of Section 8 vouchers creates an environment where landlords can secure consistent occupancy, even if individual tenants move frequently.
The verdict for ZIP 87008 in Cedar Crest, NM, is moderate risk for a first-time Section 8 landlord. While there are clear challenges related to turnover and deferred maintenance, the strong presence of renters and the potential for steady voucher demand offers a balanced opportunity.
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.