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)
49345 is the median income for ZIP 87829, which indicates a modest economic base. However, the $1,040 Fair Market Rent (FMR) for the metro area in fiscal year 2026 suggests that rental properties can be priced competitively within government guidelines. The median home value stands at $248,706, reflecting a stable housing market. Notably, the 0.0% renter share highlights an almost exclusively owner-occupied community, reducing direct competition from other rental units. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, which could provide insights into the local real estate dynamics, the absence of renters points to a strong demand for homeownership rather than rentals. For landlords and small-portfolio investors, focusing on first-time homebuyer assistance programs or converting properties to homeownership opportunities might be more lucrative than traditional rentals. Given the high median home value and low renter share, it's evident that rental properties must offer significant value to attract tenants. The Section 8 program, with its fixed $1,040 FMR, provides a reliable source of income but requires properties to meet stringent quality standards. In conclusion, while the market presents challenges, particularly with the low renter share, leveraging the Section 8 program remains a viable strategy for ensuring steady occupancy and income.
Section 8 verdict: Acceptable, with conditions.
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.