Location: Grant County, NM | Metro: Grant County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 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)
ZIP code 88053 within the Grant County, NM metro has a Fair Market Rent (FMR) of $970 for fiscal year 2026. This figure is crucial for landlords and small-portfolio investors considering the Section 8 housing program. The FMR represents the maximum amount that a landlord can charge for a Section 8 rental agreement.
The home value in ZIP 88053 is $219,539. While there is no direct market rent data available for comparison, the home value can be used as an indicator of the local real estate market. In Grant County, NM, ZIP codes typically have varying home values and renter shares. However, with a 40.0% renter share, ZIP 88053 stands out as it has a higher proportion of renters compared to other ZIP codes in the county.
The combination of a significant renter share and a below-average home value suggests that ZIP 88053 could be considered a value pocket within the Grant County, NM metro. Value pockets are areas where the cost of living is relatively low, making them attractive to renters who may rely on government assistance programs such as Section 8.
A higher renter share in a ZIP code with lower home values often indicates a concentration of tenants who are likely to participate in the Section 8 program. This makes ZIP 88053 a prime location for landlords interested in securing stable long-term rental income through the Section 8 program.
Investors should also note that the lack of market rent data could imply that the local rental market is less active or that there are fewer private rentals available. This further supports the idea that ZIP 88053 is heavily reliant on government-assisted housing, which can provide a steady stream of tenants.
To conclude, ZIP 88053 is a value pocket within the Grant County, NM metro due to its lower home value and higher renter share. It presents a solid opportunity for landlords and investors looking to benefit from the Section 8 program.
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.