Location: McKinley County, NM | Metro: McKinley County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
19.8% of residents in ZIP code 87319 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to understand the local demand. $41,452 is the median income for this area, which provides insight into the financial capabilities of potential tenants. While the market rent is listed as N/A, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,190, offering a benchmark for rental pricing. The median home value is also not available, but this does not detract from the importance of understanding the rental dynamics. With no data on days on market (DOM) or the percentage of homes that have had their prices cut, it's clear that the primary focus should be on the rental market rather than the sale market. For those interested in Section 8 participation, the FMR is particularly relevant as it helps determine the maximum payment standards for vouchers. Given the specifics of ZIP 87319, including the strong reliance on rental housing and the established FMR, participating in the Section 8 program could be a viable strategy for securing steady, government-backed rental income.
The lack of data on certain metrics such as DOM and price-cut share suggests a stable housing market where fluctuations are minimal. However, the high percentage of renters and the established FMR indicate a robust opportunity for landlords willing to engage with the Section 8 program. The median income figure of $41,452 supports the idea that there is a substantial need for affordable housing options, making the Section 8 program an attractive choice for both landlords and tenants. By aligning rental properties with the FMR of $1,190, landlords can ensure they are competitive in the rental market while also benefiting from the security of a federal program.
Despite the limitations in available data, the trends in ZIP 87319 suggest a consistent demand for rental housing, particularly for those seeking affordable options. The FMR serves as a reliable indicator for setting rental rates that are both fair and likely to attract tenants eligible for Section 8 vouchers. Therefore, landlords and small-portfolio investors should consider the benefits of participating in the Section 8 program as a means to stabilize their rental income and cater to a significant portion of the local population.
Section 8 verdict: Participation in the Section 8 program is advisable given the strong rental market and the established FMR of $1,190.
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.