Location: Grant County, NM | Metro: Grant County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 88034 is located in a unique part of New Mexico, known for its low density and specific demographic characteristics. This area is predominantly inhabited by homeowners, with an astounding 0.0% of the population renting their homes. The absence of renters suggests a community where residents prefer ownership over leasing, which could be due to various factors including local culture, economic stability, or the availability of affordable housing options.
Regarding the population, there are 28 individuals living in this ZIP code. However, key financial metrics such as the median income and median home value are not available, indicating either a very small sample size or incomplete data for this region. Despite these limitations, it's possible to analyze the potential for rental investment through the lens of the Fair Market Rent (FMR).
The FMR for ZIP 88034 is set at $1,020 for the fiscal year 2026, which represents the maximum amount a landlord can charge for a Section 8 voucher. Without concrete data on the market rent, it's challenging to compare the FMR against typical rental prices. Nonetheless, the FMR provides a benchmark for rental income expectations in federally assisted housing programs.
Given the characteristics of ZIP 88034, it would likely suit a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters indicates a limited demand for rental properties, making it less attractive for active property management aimed at increasing rental yields. Instead, a hands-off approach leveraging the Section 8 program might be more suitable, ensuring steady but potentially lower returns compared to markets with higher rental demand and activity.
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.