Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
U.S. Census Bureau data (2024)
The ZIP code 87072 stands out due to its low population of only 789 residents, with a modest 8.6% renting their homes. The median income in this area is relatively high at $83,472, which is above the national average. However, the lack of data on median home values suggests that there might be limited housing stock or fewer homeowners reporting their property values.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 87072 is set at $1030 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it represents the maximum rent allowed for a two-bedroom unit under the Section 8 program. Despite the high median income, the absence of specific market rent data makes it challenging to compare the FMR against typical rental rates. This gap could indicate either a stable market with consistent rents or an underdeveloped rental sector where data collection is insufficient.
The data signature for ZIP 87072 reads as transitional. With a small resident base and a limited percentage of renters, the potential demand for Section 8 vouchers is likely constrained. Landlords should consider the high median income when setting rents, as it may influence the willingness of tenants to accept subsidized housing. Additionally, the scarcity of detailed housing data points to an evolving market that could benefit from increased investment and development, particularly in rental properties. For now, the focus should be on understanding the local dynamics and leveraging the FMR data to make informed decisions about rental pricing and tenant eligibility.
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.