Location: Grant County, NM | Metro: Grant County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
To classify ZIP code 88028 on the axes of yield and stability, we must first examine the available data closely.
The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,050. This figure represents the maximum amount a landlord can charge for a rental property under the Section 8 program. Given that the median home value in ZIP 88028 is $271,773, landlords can expect a reasonable yield from properties in this area when compared to the FMR. However, the absence of market rent data makes it challenging to assess how competitive the FMR is against private-market rents. Despite this gap, the potential for high yield remains evident with the FMR being a fixed and potentially higher-than-market-rate payment point.
Regarding stability, the ZIP code has a 18.1% rate of renters, which suggests a moderate level of demand for rental properties. The lack of days-on-market (DOM) data complicates the analysis of how quickly properties might be leased, but the average income of $43,750 provides insight into the economic health of the area. This income level indicates that residents have a stable financial situation, which supports the ability to pay consistent rent over time. While the renter percentage is not exceptionally high, the income figure implies that tenants can afford their rent payments, contributing to a stable cash flow.
Based on these figures, ZIP 88028 appears to be a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The presence of a moderate number of renters combined with a relatively stable income level points towards a predictable and reliable rental environment. Landlords should expect solid, if not spectacular, returns on investment with a focus on long-term tenancy and steady cash flow.
To further clarify the classification, additional data such as the market rent and days-on-market would be beneficial. However, with the current information, the conclusion leans towards a steady-cashflow zone, driven by the median home value and average income figures.
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.