Location: Mora County, NM | Metro: Mora County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The situation in ZIP code 87736 presents a unique challenge for both renters and landlords. Given the lack of specific data on median income and market rent rates, it is difficult to provide precise comparisons. However, with the available information on the Fair Market Rent (FMR) set at $970 for the metro area in fiscal year 2026, we can infer some key points.
A household in ZIP 87736 would struggle to find adequate rental housing based on the FMR standard. The extremely low number of renters—only 0.0% of the population—and the total population of 91 indicate a predominantly owner-occupied community. This suggests limited demand for rental properties, which could make it challenging for landlords to attract tenants.
The affordability gap in this scenario means that there is likely little competition among landlords for tenants. However, the scarcity of rental options also implies that any available rental units must be priced within the reach of the local households' financial capabilities. If the market rate for rentals is indeed higher than the FMR, then the majority of potential renters would need assistance to cover their housing costs.
For landlords considering their strategy in ZIP 87736, the takeaway is clear. Accepting Section 8 vouchers, which pay up to $970 per month, is essential for attracting tenants given the low number of renters and the apparent lack of disposable income among residents. Landlords who focus solely on cash-paying tenants may find themselves with empty units, as the local population does not appear to have the financial means to pay above the FMR without assistance.
In conclusion, landlords in ZIP 87736 should prioritize accepting Section 8 vouchers to ensure steady occupancy. The voucher program effectively bridges the affordability gap and provides a reliable source of income, given the limited number of potential cash-paying tenants in the area.
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.