Location: Eddy County, NM | Metro: Eddy County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
The analysis of ZIP code 88221, located in Eddy County, New Mexico, reveals several key points that are crucial for landlords and small-portfolio investors considering the area.
Firstly, regarding the rent math, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,190. However, the market rent data is currently unavailable, which makes it difficult to compare and determine if the rent math works effectively in this scenario. Without a concrete market rent figure, it's challenging to assess whether the FMR accurately reflects the potential rental income.
Secondly, the acquisition affordability in ZIP 88221 is also uncertain due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been discounted. These metrics are essential for understanding the local real estate market dynamics and the ease with which properties can be acquired. The absence of these figures leaves a significant gap in evaluating the cost-effectiveness of property purchases in the area.
Lastly, concerning tenant demand, the population data and the percentage of renters in the area are not provided. This information is critical for gauging the likelihood of finding tenants willing to pay the FMR or market rent. Without knowing the number of residents and the proportion of them who are renters, it's impossible to make an informed decision about the potential occupancy rates and stability of rental income.
In conclusion, while the Fair Market Rent for ZIP 88221 is established at $1,190, the lack of comprehensive data on market rents, median home values, days on market, price-cut shares, population, and renter percentages makes it challenging to definitively assess the viability of investing in this area. Investors should seek out detailed, up-to-date information to make well-informed decisions regarding both rental income and property acquisition costs in ZIP 88221.
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.