Section 8 Fair Market Rent (FMR) for ZIP 87548 - 2027

Location: Rio Arriba County, NM | Metro: Rio Arriba County, NM

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$830
2 Bedrooms	$1,010
3 Bedrooms	$1,400
4 Bedrooms	$1,610
5 Bedrooms	$1,868
6 Bedrooms	$2,092
7 Bedrooms	$2,259
8 Bedrooms	$2,372

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,024

Median Household Income

$72,788

Housing Units

395

Renter Percentage

25.7%

Occupancy Rate

87.6%

Renter Occupied

The ZIP code 87548, located in New Mexico, is an area where the housing market dynamics are influenced by both federal guidelines and local economic conditions. The following analysis provides key insights for landlords and small-portfolio investors looking to understand the rental landscape and make informed decisions.

Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure represents the average monthly rent that HUD determines for a two-bedroom apartment, which serves as a benchmark for rental pricing in the region.
The market rent for ZIP 87548 is currently not available. This lack of data could indicate either a nascent market or insufficient reporting. Landlords should consider local demand and competition when setting rents.
The median home value in the area is not available. Without this information, it's challenging to assess the overall wealth of homeowners and potential impact on rental demand.
Renters constitute 25.7% of the housing market in ZIP 87548. This indicates a moderate reliance on rental properties, suggesting steady but not overwhelming demand.
The days on market (DOM) for rental listings is not available. This data point would be crucial for understanding how quickly rental units are occupied, affecting vacancy rates and cash flow.
The median household income stands at $72,788. This figure suggests that residents have a reasonable level of disposable income, which could support higher rental rates if the market justifies them.

Investors considering the ZIP code 87548 should focus on the established Fair Market Rent as a starting point for their pricing strategies. Given the moderate renter share, there is potential for growth in rental demand, especially if local employment and economic conditions improve. However, the absence of key data points such as market rent and days on market highlights the need for thorough local research to complement these federal benchmarks. The median income figure supports the feasibility of higher rents, contingent upon the specifics of the local rental market. Overall, ZIP 87548 presents a stable environment for real estate investment, with opportunities to capitalize on the established FMR and growing local economy.

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.