Location: Las Cruces, NM | Metro: Las Cruces, NM MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $920 | $148,518 | 0.62% | D |
| 2BR | $1,010 | $162,278 | 0.62% | D |
| 3BR | $1,390 | $228,665 | 0.61% | D |
| 4BR | $1,610 | $322,483 | 0.5% | F |
| 5BR | $1,868 | $600,668 | 0.31% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 88021, Anthony, New Mexico, in fiscal year 2024 is set at $880. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is not the actual rent you'll charge your tenants; it's the reimbursement limit from the government.
In comparison, the average rent in ZIP 88021 based on Census American Community Survey data is $608. This suggests that the FMR provides a buffer above market rates, which can be beneficial for landlords who might otherwise struggle to cover costs with lower rents.
The renter share in Anthony, NM, is 24.4%, indicating a moderate demand for rental properties. This percentage reflects the proportion of households that rent rather than own their homes, giving you an idea of the potential customer base for your rental property.
If you're looking to acquire a property in this area, the median home value is around $237,812. This figure can help you assess the investment cost and potential resale value if you decide to sell in the future.
Before proceeding with your first Section 8 rental, verify that the property meets all the required housing quality standards (HQS). These standards ensure that the living conditions are safe and decent for tenants. Failure to meet these criteria could result in penalties or loss of participation in the program.
With the FMR at $880 and the average rent at $608, there is a clear incentive for landlords to participate in the Section 8 program. The 24.4% renter share indicates a steady demand for rentals, and the median home value gives you a solid benchmark for the cost of acquiring a property.
To summarize, the FMR of $880 is the reimbursement cap, not your rent. The average rent of $608 shows you're above market rate with the voucher program. With 24.4% of residents renting, there's a reliable tenant pool. And at $237,812, the median home value offers insight into the investment size. Ensure your property meets HQS to avoid issues.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.