Location: San Miguel County, NM | Metro: San Miguel County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 87731 stands out due to its unique demographic and economic characteristics. With only 355 residents, it has a remarkably low population density. The data reveals that there is no rental activity recorded, indicating a 0.0% rental rate among the residents. This suggests that the area is predominantly owner-occupied. Furthermore, the median income and median home value are not available, which could imply that the data set is too small or skewed to provide meaningful averages.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area covering ZIP 87731 is set at $1,010 for fiscal year 2026. However, the lack of available market rent data makes it challenging to compare the FMR against local market conditions. Typically, the FMR is used to determine payment standards for housing assistance, but without a benchmark, landlords and investors cannot assess how competitive these rates might be.
The overall data signature for ZIP 87731 reads as "stable." Given the absence of renters and the non-availability of median income and home values, it appears that the community is relatively insulated from typical fluctuations seen in more diverse and populous areas. This stability can be beneficial for long-term investments, as it reduces the risk associated with rapid changes in the housing market or tenant turnover. However, the limited size of the dataset means that any significant change in the local economy or demographics could quickly alter the stability of the area. Landlords and investors should remain vigilant and continue to monitor local trends for signs of potential shifts.
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.