Location: Curry County, NM | Metro: Curry County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The median home value in ZIP 88103, located in Curry County, NM, is $154,100. This figure is notably lower than the national median home value of $338,100. In terms of market rent, specific data is currently unavailable for ZIP 88103. However, the Federal Housing Administration (FHA) Fair Market Rent (FMR) for the area, as of fiscal year 2026, stands at $1,140. Given the lack of market rent data, it is reasonable to infer that voucher tenants would likely cashflow at the FMR level, particularly in light of the relatively low median home value.
To derive the rent-to-price ratio, we can use the median home value and the FMR. Assuming a typical mortgage payment includes principal, interest, taxes, and insurance (PITI), and using an estimated 1% annual property tax rate and an average insurance cost, the monthly mortgage payment for a home valued at $154,100 might be approximately $770. Adding a conservative estimate of $150 for property taxes and insurance brings the total to $920. This amount is less than the FMR of $1,140, indicating that voucher tenants could potentially cover the costs with minimal assistance required from landlords, especially when considering maintenance and vacancy factors.
The strong investor angle in ZIP 88103 is stability. Despite the lack of specific data on days on market (DOM) and price-cut shares, the area's low median home value suggests a robust market for rental properties, particularly those accepting Section 8 vouchers. The ability to maintain positive cash flow without requiring premium units makes this ZIP code an attractive option for investors seeking stable, predictable returns. Additionally, the recent house appreciation rate of 9.54% indicates potential for long-term appreciation, although this must be balanced against the need for stable occupancy and rent collection.
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.