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 ZIP code 87106 in Albuquerque, NM, serves as a cash-flow anchor within a Section 8 portfolio strategy. This is due to the significant spread between the Fair Market Rent (FMR) of $1,190 for FY 2024 and the market rent of $1,332, indicating a potential for higher-than-average rental income. Additionally, the median home value in the area stands at $367,550, which provides a stable asset base.
The median sale price of a home in 87106 was $385,000 last month, representing a slight increase of 3.2% since last year. However, the median sale price per square foot is $210, down 8.3% since last year, suggesting that while property values have risen slightly, the cost per square foot has decreased, potentially improving profit margins for investors.
The 15-day Days on Market (DOM) and 0.2% price-cut share indicate a relatively quick turnover rate for properties, reducing holding costs and vacancy periods. This, combined with the 61.5% renter share and median income of $49,781, supports the idea that 87106 can serve as a reliable cash-flow anchor within a broader investment strategy. Landlords and small-portfolio investors can leverage these factors to ensure consistent returns and manage their portfolios effectively.
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.