Location: Taos County, NM | Metro: Rio Arriba County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,600 |
| 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)
13.0% of the population in ZIP 87577 are renters, indicating a smaller but still significant demand for rental properties. This percentage is crucial for landlords and small-portfolio investors as it suggests a niche market to target. $1,250 is the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which sets a benchmark for rental pricing in the region. Despite the N/A market rent and median home value, the FMR provides a clear guideline for what is considered a fair rent amount. The lack of specific data on median income means that while there is a known renter base, their ability to pay higher rents remains uncertain. With N/A-day DOM (days on market), it's unclear how quickly properties are being rented out, but the FMR can help ensure competitive pricing. The N/A% price-cut share indicates that there isn't a significant trend of landlords needing to reduce rent to attract tenants, suggesting that the current market conditions support holding steady at the FMR. For those considering Section 8 participation, the $1,250 FMR is particularly relevant as it often aligns closely with the maximum allowable rent under the program. Given the data, landlords should focus on maintaining properties that meet the quality standards required by Section 8 while positioning rents competitively at or slightly below the FMR to attract tenants. This strategy will likely yield a stable and predictable income stream, especially given the 13.0% renter share. Verdict: Section 8 is a viable option for landlords in ZIP 87577, ensuring steady occupancy and income.
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.