Section 8 Fair Market Rent (FMR) for ZIP 88124 - 2027

Location: Roosevelt County, NM | Metro: Curry County, NM

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$810
2 Bedrooms	$1,010
3 Bedrooms	$1,350
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

891

Median Household Income

$51,618

Housing Units

567

Renter Percentage

16.0%

Occupancy Rate

68.4%

Renter Occupied

The ZIP code 88124, located in Las Cruces, New Mexico, offers a unique blend of affordability and accessibility, making it a prime location for real estate investment. The area benefits from a stable economy and a growing population, which translates into steady demand for rental properties.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $970, indicating a solid benchmark for rental pricing.
The average market rent for properties in ZIP 88124, based on Census American Community Survey data, is $841, suggesting that there is potential for increasing rents to match the FMR without alienating tenants.
The median home value in this area is not available, which could imply a lack of comprehensive data but also points to a focus on rental properties rather than homeownership.
Renters make up 16.0% of the housing market in ZIP 88124, reflecting a significant portion of the population that relies on rental properties, which can be a positive sign for steady demand.
The median income for residents in this ZIP code is $51,618, providing insight into the economic capacity of potential tenants and buyers.
The days on market (DOM) figure is not available, which might indicate either a very active or inactive market, depending on the context. This metric would be crucial for understanding how quickly properties are being rented or sold.

Investors looking to enter the market in ZIP 88124 should consider the gap between the Fair Market Rent and the current market rent as an opportunity to increase their rental income. With a median income of $51,618, the local population has a reasonable ability to pay higher rents, provided they remain competitive within the region. The absence of median home values and days on market data suggests a market primarily driven by rentals, which aligns well with the Section 8 program. Given the 16.0% renter share, there is a consistent base of tenants who could benefit from affordable housing options. Overall, the ZIP code presents a viable option for investors focused on long-term stability and moderate growth in rental income.

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.