Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The median home value in ZIP 87022, located in Isleta Village Proper, Bernalillo County, Albuquerque, NM MSA, is $140,200. In comparison, the Fair Market Rent (FMR) set by HUD for FY 2024 is $1,060 for a standard unit. Given the median home value, the rent-to-price ratio is relatively low, indicating that renting may be more economically viable than purchasing in this area.
The market rent for a two-bedroom unit in ZIP 87022 is $1,030 per month, slightly below the HUD FMR of $1,060. This suggests that voucher tenants would generally cashflow at the FMR rate, though the difference is marginal. Landlords should consider this when setting rents for their properties to ensure they remain competitive and attractive to potential tenants.
The median days on market (DOM) and the percentage of price cuts are not available for this specific ZIP code. However, these metrics are typically important in assessing the rental versus buying dynamics. If DOM is short and price cuts are minimal, it indicates a strong seller's market, which might affect the attractiveness of long-term investment strategies.
The strongest angle for Section 8 investors in ZIP 87022 is likely to be cashflow. With the FMR slightly above the market rent, landlords can expect a stable income stream from voucher tenants without the need for premium units. This makes the area particularly appealing for those focused on generating consistent rental income rather than capital appreciation.
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.