Location: Sierra County, NM | Metro: Las Cruces, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
ZIP code 87936, situated within Sierra County, NM, has a Fair Market Rent (FMR) of $990 for the fiscal year 2024. Comparatively, the FMR for a 2-bedroom unit in Sierra County is $933, indicating that 87936 is slightly above the county average in terms of rental costs. However, the lack of a reported market rent for 87936 suggests that it may not be a typical rental market, aligning with the fact that the renter share is 0.0%, meaning almost all homes are owner-occupied.
The median home value in 87936 is $179,605. In contrast, the overall median home value for Sierra County is $188,423, according to recent reports. This places 87936 slightly below the county average in terms of home value. The combination of a slightly higher FMR and a slightly lower home value suggests that 87936 may not be a sweet spot for Section 8 landlords, as it lacks the high renter share typically seen in such areas.
Given the specific figures, ZIP code 87936 appears to be a value pocket within its metro area. The lower home values and slightly higher FMRs suggest that it offers good value for potential homeowners or investors looking to purchase properties. However, the absence of renters makes it less attractive for landlords seeking to participate in the Section 8 program.
To summarize, 87936 is not a premium sub-market nor a mid-tier neighborhood within Sierra County, NM. Its characteristics position it as a value pocket, offering opportunities for those interested in purchasing rather than leasing properties.
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.