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 rent math for ZIP 87053 does not work favorably for landlords. The Fair Market Rent (FMR) set at $1140 for fiscal year 2024 is significantly higher than the actual market rent reported by the Census ACS, which stands at $885. This discrepancy suggests that landlords may struggle to justify higher rental rates to tenants based on current market conditions.
Acquisition in ZIP 87053 is challenging due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes needing price cuts. Without these figures, it's difficult to assess the affordability and liquidity of property acquisitions in this area. Landlords should seek additional local insights to make informed decisions about purchasing properties.
Tenant demand in ZIP 87053 is moderate. With a total population of 916 and a renter share of 10.1%, there are approximately 92 potential renters in the area. However, this relatively low number of renters might limit the pool of prospective tenants, making it harder to fill vacancies quickly and maintain steady occupancy rates.
Verdict: ZIP 87053 presents a mixed picture for landlords and small-portfolio investors. While the FMR suggests a potentially attractive rental income, the lower market rent indicates that tenants may not be willing to pay the higher rate. Acquisition challenges due to missing data on median home values and market dynamics further complicate investment decisions. Lastly, the limited tenant demand means landlords must be prepared for a smaller pool of applicants. Overall, ZIP 87053 requires careful consideration and thorough local research before investing.
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.