Location: Taos County, NM | Metro: Taos County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
U.S. Census Bureau data (2024)
The ZIP code 87529 is situated in a neighborhood characterized by a relatively small population of 4,538 residents, with a modest 21.7% renting their homes. The area boasts a median household income of $61,618, placing it above the national average. The median home value stands at $496,873, indicating a middle to upper-middle-class residential environment where homeownership is prevalent.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,670. This figure contrasts with the actual market rent, which is reported to be $1,310 according to the Census ACS. The discrepancy between these two values suggests a potential opportunity for landlords who can offer properties at the higher FMR rate, especially those willing to cater to Section 8 tenants.
Given the data, ZIP 87529 is more suited to a hands-on value-add buyer rather than a hands-off voucher operator. The difference between the FMR and market rent indicates that there could be room for improvement in property management practices or renovations to justify higher rents. A hands-on approach would allow investors to maximize returns by aligning their rental offerings closer to the FMR while still being competitive in the local market. This strategy requires active involvement in tenant selection, property maintenance, and possibly upgrades to attract Section 8 participants willing to pay the higher FMR rates.
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.