Location: Roosevelt County, NM | Metro: Curry County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
The ZIP code 88135 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, as the market rent of $930 is notably lower than the Fair Market Rent (FMR) of $1,130 for the fiscal year 2026, indicating that properties rented at the market rate may struggle to attract tenants willing to pay the higher FMR required by Section 8 vouchers. This discrepancy can lead to frequent changes in occupancy, increasing administrative burdens and costs.
Vacancy exposure is another critical issue. The average days on market (DOM) is not available, which makes it difficult to predict how long a property might remain vacant between tenants. This uncertainty can result in lost rental income and additional expenses related to marketing and maintenance.
Deferred maintenance is also a risk factor. With a median income of $70,417, residents in ZIP 88135 may have limited financial resources to cover unexpected repairs and maintenance, especially if the typical home value is unknown. This lack of information on home values suggests variability in the condition of housing stock, potentially leading to higher-than-average maintenance costs for landlords.
However, these risks must be weighed against the substantial 23.2% renter share in the area. High renter density typically correlates with increased demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate some of the risks associated with vacancy and turnover, as there is a larger pool of potential tenants.
In conclusion, the risks of tenant turnover, vacancy exposure, and deferred maintenance present a moderate risk scenario for a first-time Section 8 landlord in ZIP 88135. While there are significant challenges, the high renter density offers a degree of stability and opportunity that can offset these issues.
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.