Location: Santa Fe, NM | Metro: Santa Fe, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
1540 is the Fair Market Rent (FMR) for ZIP 87594, Unknown, NM, for fiscal year 2024, indicating the baseline rental rate for Section 8 eligibility. However, the lack of specific market rent data suggests limited private sector competition, potentially stabilizing rental incomes for landlords. With 161 homes listed for sale according to Zillow, the real estate market in 87594 is relatively active but lacks detailed metrics such as median home values or median income, making it challenging to assess broader economic stability. The absence of Days on Market (DOM) and price-cut share percentages indicates that there is no significant fluctuation in property pricing or selling speed, which could be interpreted as a stable market condition. This stability, combined with the absence of strong competition from non-subsidized rentals, makes 87594 an attractive area for Section 8 participation. Despite the overall quiet nature of the housing market as described by recent insights, the specific conditions in 87594 offer a niche opportunity for landlords and small-portfolio investors to secure steady rental incomes without the volatility seen in more competitive markets.
Verdict: ZIP 87594 presents a stable environment for Section 8 investments, with limited competition and a defined baseline rental rate.
Data Sources: FMR data from HUD (2027).
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.