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 87038 presents a unique scenario for real estate analysis, particularly when considering it under the lens of Section 8 properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. This figure stands alone, as there is no available market rent data or median home value information for this specific ZIP code, indicating a potential gap in comprehensive local market analysis.
On the axis of yield, 87038 leans towards being a low-yield market due to the absence of comparative market rent data. Without a benchmark to measure against, it's challenging to determine if the FMR provides a competitive rental income. However, the FMR does offer a guaranteed minimum income for landlords participating in the Section 8 program, which can be seen as a stable baseline.
Regarding stability, the ZIP code shows very little fluctuation with 0.0% of the population identified as renters. This suggests that the majority of residents own their homes, potentially leading to lower demand for rental properties, including those managed through Section 8. The lack of data on days on market (DOM) and median income further complicates the stability assessment, but the low percentage of renters indicates a market less prone to rapid changes typical of highly rented areas.
In summary, ZIP 87038 does not fit neatly into the high-yield/low-stability flip-style market category nor is it a classic steady-cashflow zone. Instead, it appears to be a market with limited potential for high rental yields due to the absence of competitive market rent data, and moderate stability given the low proportion of renters. Landlords and small-portfolio investors should carefully consider these factors before entering this market, focusing on the guaranteed income aspect of the Section 8 program rather than speculative high yields.
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.