Location: Taos County, NM | Metro: Rio Arriba County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
The ZIP code 87521 presents a dynamic rental market with specific characteristics that can be inferred from the available data points. The Fair Market Rent (FMR) for the area is set at $1,090 for fiscal year 2026, indicating the benchmark rental rate established by HUD for Section 8 purposes. In contrast, the actual market rent, as reported by the Census American Community Survey (ACS), stands at $945. This suggests that while the FMR provides a guideline, the market itself operates below this threshold, potentially signaling a balance between supply and demand.
The discrepancy between the FMR and the market rent could imply that there is sufficient supply to meet demand, allowing rents to remain stable and slightly below the federal guidelines. However, the 13.1% renter share in the area reveals an important aspect of the housing dynamics. A relatively low percentage of renters compared to homeowners might indicate a preference for homeownership among residents. Despite this, it also implies that a significant portion of the population relies on rental housing, which can create long-term housing pressure as the demand for rentals remains consistent.
The absence of data regarding the percentage of price cuts, days on the market (DOM), and median home values leaves some aspects of the housing market unclear. However, it is evident that the rental sector is active and plays a crucial role in the overall housing landscape of ZIP 87521. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns and risks associated with the area.
In summary, ZIP 87521 offers a rental market that is well-defined by the FMR but operates slightly below this figure, suggesting a balanced market. The persistent 13.1% renter share underscores the importance of rental properties in addressing housing needs and indicates a steady demand for rental units, even if the broader trend leans towards homeownership.
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.