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 ZIP code 87565 stands out due to its unique demographic and economic characteristics. With only 147 residents, it has a minimal rental population at 0.0%, indicating that nearly all housing units are owner-occupied. The median income for residents is $24,190, which is notably lower than the national average, suggesting a predominantly low-income community.
The lack of data on median home values indicates that either there are very few homes available for sale or the area is primarily composed of owner-occupied homes with little turnover. This makes it challenging to assess the typical cost of homeownership in the area. However, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990, providing a benchmark for rental costs if any were present. Since there is no market rent data available, landlords should consider this figure as a guideline for potential rental rates in the future.
In terms of voucher economics, the situation is straightforward. Given the absence of rental properties, the use of Section 8 vouchers is non-existent. Landlords interested in entering this market would have to be prepared for a niche environment where voucher usage might be limited to a small number of units, if any become available for rent.
The data signature for ZIP 87565 reads as "stable." The static nature of the rental market and the low median income suggest that there are few changes in the economic landscape. For small-portfolio investors, this stability can be advantageous, as it minimizes risk associated with fluctuating market conditions. However, it also means that opportunities for significant returns on investment may be limited, given the low income levels and lack of rental demand.
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.