Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
The ZIP code 87187 in Unknown, NM, presents a specific real estate scenario when analyzed through the lens of yield and stability for Section 8 investments.
Yield: The Fair Market Rent (FMR) for ZIP 87187 in fiscal year 2024 is set at $1200. This figure indicates the rental amount that is considered reasonable for a given area, which is crucial for determining the potential income from Section 8 vouchers. Given the lack of specific market rent and home value data, the FMR serves as a key benchmark for assessing the yield. Landlords should expect to receive $1200 per unit as the maximum allowable rent under the Section 8 program.
Stability: Stability in this context would encompass factors such as the percentage of renters, days on market (DOM), and local income levels. Unfortunately, the specific data for these metrics are not available for ZIP 87187. However, the median sale price of a home in the area was $820K last month, indicating a relatively high home value. This suggests that the area might attract homeowners rather than renters, potentially impacting the stability of rental income.
The limited data available suggest that ZIP 87187 is neither a high-yield/low-stability flip-style market nor a steady-cashflow zone. With an FMR of $1200 and a median sale price of $820K, it falls somewhere in between. The absence of specific rental market and income data makes it difficult to fully assess the stability, but the high median home value hints at a more stable homeowner-dominated market.
To make a more informed decision, landlords and small-portfolio investors should consider supplementing this analysis with additional local economic indicators and market trends.
Data Sources: FMR data from HUD (2027).
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.