Location: McKinley County, NM | Metro: McKinley County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
39.2% of residents in ZIP code 87316 are renters, highlighting a significant demand for rental properties. $1,370 is the Fair Market Rent (FMR) for the metro area as of fiscal year 2026, indicating the benchmark rent prices for Section 8 eligible units. $1,085 is the average market rent based on Census ACS data, showing that rental prices are below the FMR, which can be advantageous for landlords participating in the Section 8 program. N/A for the median home value suggests limited data on property values, but the strong rental market presence makes it less critical for investors focusing on rentals. $84,875 is the median income in the area, providing insight into the financial capacity of potential tenants. N/A for days on market (DOM) and N/A for the percentage of price-cut share indicate a lack of detailed data on home sales, which is irrelevant for those interested in the rental market. The combination of a high renter share and lower-than-FMR market rents presents an opportunity for landlords to attract tenants through the Section 8 program. The median income figure supports the feasibility of tenants qualifying for assistance. In conclusion, the rental market dynamics in ZIP 87316 make it a favorable environment for Section 8 participation.
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.