Location: Lea County, NM | Metro: Lea County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
0.0% of renters in ZIP code 88264 rely on housing assistance programs, indicating a very low demand for subsidized rentals. This statistic aligns with the $1,230 Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026, which is the maximum amount a Section 8 voucher holder can pay towards rent. The N/A for market rent suggests there is limited recent data available, possibly due to low activity or reporting in this category. Similarly, the absence of figures for median home value and median income indicates a lack of comprehensive data, but given the low renter share, it's reasonable to infer that the local economy supports a higher proportion of homeowners or individuals not dependent on rental subsidies.
N/A days Days on Market (DOM) and N/A% price-cut share further highlight the scarcity of detailed rental market information for ZIP 88264. However, these missing metrics can be interpreted as signs of a stable rental market where properties are likely to be listed at appropriate prices and sell quickly without needing significant reductions. For landlords and small-portfolio investors considering Section 8 tenants, the extremely low 0.0% renter share means that the potential pool of Section 8 applicants is minimal, making it less attractive compared to other areas with higher percentages of renter reliance on housing assistance.
The Section 8 Fair Market Rent of $1,230 is the only concrete figure provided, setting a clear guideline for landlords accepting vouchers. This amount reflects the maximum rent allowable under the program, ensuring that landlords receive a predictable and consistent income stream. However, the low demand for Section 8 rentals in 88264 implies that landlords might face challenges finding eligible tenants willing to use their vouchers here.
In conclusion, for ZIP 88264, the data points to a rental market dominated by non-subsidized tenants. The $1,230 FMR is the key figure for landlords who must adhere to this limit if they wish to accept Section 8 vouchers. Given the low demand indicated by the 0.0% renter share, landlords should consider the potential difficulties in attracting Section 8 tenants. Therefore, the Section 8 verdict for ZIP 88264 is: Not recommended for landlords seeking a high volume of Section 8 applications.
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.