Location: Guadalupe County, NM | Metro: Guadalupe County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 87724 is located in a rural area of New Mexico, characterized by a small population of around 9,000 residents. Notably, 100.0% of the inhabitants are renters, indicating a community heavily reliant on rental housing. The median income and median home value data are not available, suggesting either a lack of comprehensive reporting or a unique economic profile that defies typical metrics.
Transitioning into the economic realities of renting in 87724, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,010. This figure serves as a benchmark for rental pricing in the area but is juxtaposed against the unavailability of current market rent data, which might imply either a stable rental market or insufficient data points for analysis.
Given the high percentage of renters and the absence of homeownership data, the ZIP code is well-suited for hands-off voucher operators. The guaranteed income from Section 8 vouchers can provide a reliable stream of revenue without the complexities of value-added strategies typically employed in more dynamic markets. However, the lack of market rent data also presents an opportunity for hands-on investors who are willing to conduct thorough local research and engage deeply with the community to identify potential areas for improvement and value creation.
In conclusion, ZIP 87724 offers a clear path for hands-off operators looking for stability and predictability in their investment properties. For those inclined towards active management, the area's unique characteristics and the absence of certain economic indicators present both challenges and opportunities that require careful consideration and local insight.
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.