Section 8 Fair Market Rent (FMR) for ZIP 87027 - 2027
Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,050 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$15,625
To determine if you should buy in ZIP code 87027 for Section 8 purposes, follow this decision tree:
- Does FMR $1030 (ZIP FY 2024) clear debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not invest in this area for Section 8. The Fair Market Rent (FMR) must cover your debt service to ensure profitability.
- Is market rent above, at, or below FMR?
- If market rent is above FMR: This suggests strong rental demand and potential for higher income properties. However, for Section 8 investments, focus remains on whether the FMR can support your financial obligations.
- If market rent is at FMR: This indicates that the ZIP code is balanced for rental income. You can expect to earn the FMR amount, which is crucial for covering expenses.
- If market rent is below FMR: This might indicate overvaluation of the FMR or an oversupply of rental units. Section 8 tenants will pay the FMR, but other investors might struggle to find tenants willing to pay that rate.
- Are 37.9% renters + N/A-day DOM enough demand?
- If the Days on Market (DOM) is low: This implies strong demand for rental properties. With 37.9% of the population being renters, there is sufficient tenant base for Section 8 properties.
- If the DOM is high: This could suggest weak demand or overpriced rentals. Even with a decent percentage of renters, a high DOM may mean difficulty in finding and retaining tenants.
A final decision to invest in ZIP 87027 for Section 8 purposes will depend on the answers to these questions. A positive outcome on all fronts—FMR covering debt service, market rent aligning with or exceeding FMR, and a low DOM indicating strong demand—would support a yes. If any one of these conditions fails, reconsider the investment, leading to an it depends or no.
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.