Location: Catron County, NM | Metro: Catron County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 87820 reveals a unique scenario where traditional metrics such as median income and market rent rates are not available, indicating a potentially specialized or limited rental market. The population here stands at 135 individuals, with an interesting statistic showing that 0.0% of these residents are renters, suggesting a predominantly owner-occupied area.
In the context of affordability, the federal payment standard for housing vouchers in the metro area for fiscal year 2026 is set at $1,040. This figure represents the maximum amount that landlords can receive through the voucher program for renting out their properties. However, without concrete data on the local market rent, it's challenging to determine how this compares to what a typical household might pay if they were renting.
The lack of renters implies a low level of competition among landlords in this ZIP code. Given that the voucher payment standard is $1,040, landlords might consider this as a stable source of income, especially if attracting tenants is difficult due to the low number of renters in the area. A strategy focusing on voucher recipients could be beneficial, as it ensures a consistent and government-backed income stream.
However, the absence of median income data suggests that the economic profile of potential voucher recipients is unclear. Landlords must assess whether the guaranteed income from vouchers outweighs the risks associated with the unknown financial stability of voucher holders in this area.
Takeaway: For landlords in ZIP 87820, a focus on voucher programs can provide a reliable income source, given the low competition and the federal payment standard of $1,040. However, landlords should be cautious and evaluate the overall economic conditions of the area before fully committing to a voucher-only strategy, as the success of such an approach hinges on the ability to attract voucher holders in a market with no established renter base.
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.