Location: Guadalupe County, NM | Metro: Albuquerque, NM MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The Federal Market Rent (FMR) for ZIP 88321 in fiscal year 2024 is set at $1030, which is lower than the actual market rent. This discrepancy suggests that there is room for rental rates to increase as the local economy strengthens and demand for housing grows. However, the exact market rent and median income figures are not provided, making it difficult to calculate the precise spread between FMR and market rent.
The high median home value implies that the area is experiencing significant growth and desirability. This can be attributed to various factors including economic development, population influx, and improvements in infrastructure and amenities. As such, properties in ZIP 88321 are likely to appreciate in value over the long term, providing investors with substantial capital gains.
While the data does not specify the percentage of price-cut shares or days on market (DOM), the high median home value and the presence of a large number of vacant homes suggest that there is ample opportunity for savvy investors to acquire undervalued properties and benefit from future appreciation.
In summary, ZIP 88321 should be considered as an appreciation play within a Section 8 portfolio strategy due to its high median home value and potential for rising rental rates and property values. This makes it an excellent choice for investors looking to capitalize on the growth of the local real estate market over time.
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.