Location: Roosevelt County, NM | Metro: Roosevelt County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
ZIP code 88115 is situated within the Roosevelt County, NM metro area. The Federal Market Rent (FMR) for this ZIP code is set at $980 for fiscal year 2026. This figure represents the maximum amount that landlords can charge for units participating in the Section 8 program.
When comparing 88115 to other ZIP codes within Roosevelt County, NM, it's important to note that the market rent and home values for 88115 are currently unavailable. However, the 0.0% renter share in ZIP 88115 stands out significantly. A renter share of 0.0% implies that virtually all residents in this ZIP code own their homes, which contrasts sharply with areas where a higher percentage of residents are renters, including those who might rely on Section 8 vouchers.
The absence of market rent and home value data for ZIP 88115 makes it difficult to categorize it as either a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro. However, the low FMR of $980 suggests that if rental properties were available, they would be relatively affordable compared to other areas in the county. In the context of Section 8, an area with a low FMR but also a low renter share could indicate limited opportunities for landlords seeking Section 8 tenants. This ZIP code does not exhibit the characteristics of a typical Section 8 sweet spot, which usually features a higher renter share alongside lower home values and rents.
In summary, ZIP 88115 appears to be a predominantly owner-occupied area with an FMR of $980, suggesting that rental properties, should they exist, would be within the affordable range for Section 8 participants. Yet, the lack of rental activity and the absence of comparative market data limit its potential as a target market for landlords interested in Section 8 tenants.
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.