Location: Roosevelt County, NM | Metro: Roosevelt County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
The analysis for ZIP code 88123 in Unknown, NM, reveals a challenging scenario due to limited data availability. However, we can still provide insights based on the information available.
The Fair Market Rent (FMR) for a 2-bedroom apartment in the metro area for fiscal year 2026 is set at $980 per month. This figure represents the annualized income a landlord could expect if participating in the Section 8 program. To calculate the gross yield, we would typically divide this annual rental income by the median home value. Unfortunately, the median home value is not available, making it impossible to derive an exact gross yield percentage for the Section 8 scenario.
Similarly, the market rent for the area is also not provided, preventing us from calculating a gross yield based on market rates. The lack of market rent data suggests that either there is insufficient rental activity or the market is not well-documented in this region.
The renter density and days on market (DOM) are also unspecified, which further complicates the analysis. Renter density is crucial because it indicates the proportion of residents who prefer renting over owning, while DOM reflects how quickly properties are rented out once listed. Without these figures, we cannot accurately assess the likelihood of finding tenants or the speed at which units might be occupied.
In the absence of market rent data, the Section 8 FMR of $980 per month serves as the only concrete income figure. Given the missing median home values, it's difficult to compare the gross yields directly. However, it's reasonable to infer that if the median home value were significantly higher, the gross yield from Section 8 would be lower compared to what might be achieved through market rents.
Landlords and small-portfolio investors should consider the stability and predictability of Section 8 rents, even without a precise gross yield calculation. The program provides a reliable source of income, though it may not match the potential returns from market rents in more active rental markets.
To make an informed decision, investors should gather additional local data, such as the average sales price of homes and recent market rent trends, to better understand the overall rental environment and the potential gross yield in ZIP 88123.
Data Sources: FMR data from HUD (2027).
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.