Location: San Miguel County, NM | Metro: San Miguel County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 87560 in San Miguel County, NM, reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, while the current market rent based on Census ACS data stands at $953. This indicates that landlords can expect to receive slightly less than the FMR but still within a reasonable range that supports investment viability.
Secondly, the acquisition affordability in ZIP 87560 is unclear due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price cuts. Without these figures, it's challenging to provide a precise assessment of whether property acquisition is financially feasible at present.
Lastly, there is a notable tenant demand in the area. With a population of 1,694, 22.6% of residents are renters. This suggests that there is a significant number of potential tenants, approximately 383 individuals, who could occupy rental properties. However, the demand must be weighed against the supply of rental units available in the market.
In summary, the rent math in ZIP 87560 is favorable, with market rents closely aligning with the FMR. Tenant demand exists, supported by a substantial renter population. However, the lack of detailed data on home values and market conditions complicates the assessment of acquisition affordability. Investors should proceed with caution, ensuring they conduct thorough local market research before making any purchase decisions.
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.