Location: Taos County, NM | Metro: Taos County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,620 |
| 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 87524 is not a renter-heavy area based on the provided data. With a population of 450 and 0.0% of residents being renters, it indicates that the majority of the residents own their homes rather than renting. This suggests that the demand for Section 8 vouchers in the rental market is likely to be very low.
The median household income for this ZIP code is not available, which makes it difficult to provide an exact percentage of how much of local income goes towards rent. However, given the lack of renters, it's reasonable to infer that there isn't a significant rental market to compare against. The Fair Market Rent (FMR) for the area is set at $1,060 for FY 2026, which is the metro rate and can be used as a reference point for rental costs in areas where data is sparse.
Since the median household income is not provided, we cannot calculate the precise proportion of income spent on rent. But typically, in areas where Section 8 vouchers are common, the average rent would be significantly lower than the FMR, often around 30% of the local median income. Without specific income data, it's unclear how this ZIP code compares, but the low number of renters suggests that such a scenario is unlikely here.
A landlord in ZIP code 87524 should expect a minimal tenant pool seeking Section 8 vouchers due to the overwhelmingly homeowner-dominated nature of the area. Tenants who might use vouchers would likely struggle to find properties listed for the voucher amount, as the rental market appears to be so limited that it doesn't align well with the typical characteristics of a Section 8-heavy area. Landlords should prepare for a niche market and possibly higher rents compared to the FMR, reflecting the scarcity of rental properties and the potential for competition among the few available units.
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.