Location: Socorro County, NM | Metro: Lincoln County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
0.0% of the residents in ZIP code 87011 rely on rental housing, indicating a very low demand for rental properties in this area. This statistic aligns with the fact that there is no available data for market rent or median home value, suggesting a unique real estate landscape where homeownership might be more prevalent. Despite the lack of market rent data, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, which provides a benchmark for rental pricing. However, the absence of median income data means we cannot directly assess the affordability of this rent relative to local incomes. The data also shows that there is no available information on the days on market (DOM) or the percentage of homes that have been price-cut, which could indicate a stable market without significant fluctuations in property values or sales times.
The low renter share percentage of 0.0% implies that landlords and small-portfolio investors should carefully consider the potential risks and returns before investing in this ZIP code. With such a low reliance on rentals, it is likely that finding tenants willing to pay the $1,000 FMR could be challenging. Moreover, the lack of detailed market data makes it difficult to gauge the overall health and trends of the real estate market in 87011. For those interested in leveraging Section 8 vouchers, the $1,000 FMR suggests that properties priced around this figure would be competitive for voucher holders, but the scarcity of renters in the area poses a significant challenge.
Section 8 Verdict: Not recommended for investment due to the extremely low renter share and limited market data.
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.