Location: Catron County, NM | Metro: Catron County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 88039 is located in a rural area of New Mexico, characterized by a small population of only 859 residents. This makes it a tight-knit community where personal connections can be crucial. The rental market here is relatively modest, with just 16.1% of the population being renters. The median household income stands at $31,484, which is significantly lower than the national average, indicating that many residents have limited financial resources. The median home value is $241,310, reflecting the modest economic status of the area.
Moving into the specifics of the rental market, the Fair Market Rent (FMR) for ZIP 88039, as determined by HUD for metro areas for fiscal year 2026, is set at $1,040. In contrast, the actual market rent, based on Census ACS data, is much lower at $718 per month. This gap between the FMR and the market rent suggests that there is potential for Section 8 landlords to charge rents closer to the FMR without pricing out tenants who rely on vouchers.
Given these conditions, ZIP 88039 would likely suit a hands-off voucher operator rather than a hands-on value-add buyer. The smaller number of renters means that the demand for rental properties is not high, and the modest income levels indicate that most tenants will need to rely on vouchers to afford housing. Therefore, an investor focusing on maintaining properties and ensuring compliance with Section 8 requirements, rather than seeking to add significant value through renovations or upgrades, would find this ZIP code more suitable for their investment strategy.
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.