Location: Roosevelt County, NM | Metro: Curry County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The rent math in ZIP 88118 does not favor landlords. The Fair Market Rent (FMR) set at $970 for the metro area for fiscal year 2026 is significantly higher than the actual market rent of $667 reported by the Census American Community Survey (ACS). This discrepancy suggests that landlords may struggle to charge the higher FMR due to market conditions.
Acquisition of properties in this ZIP code is challenging due to the lack of available data on median home values, days on market (DOM), and the percentage of price cuts. Without these figures, it's difficult to assess the affordability and potential profitability of acquiring new rental properties.
Tenant demand in ZIP 88118 is low. With a total population of 329, only 10.1% are renters. This indicates a limited pool of potential tenants, which could make it harder to maintain occupancy rates and ensure steady rental income.
Based on the analysis, ZIP 88118 presents significant challenges for landlords and small-portfolio investors. The disparity between FMR and market rent, coupled with a dearth of data on property acquisition metrics, and a low tenant demand, all point towards an unfavorable investment environment. Landlords should proceed with caution and consider other ZIP codes with more favorable conditions before making any investment decisions in this area.
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.