Section 8 Fair Market Rent (FMR) for ZIP 88348 - 2027

Location: Lincoln County, NM | Metro: Lincoln County, NM

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$830
1 Bedroom	$840
2 Bedrooms	$1,060
3 Bedrooms	$1,350
4 Bedrooms	$1,660
5 Bedrooms	$1,926
6 Bedrooms	$2,157
7 Bedrooms	$2,330
8 Bedrooms	$2,447

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

279

Median Household Income

$86,985

Housing Units

186

Renter Percentage

N/A

Occupancy Rate

79.0%

Renter Occupied

To determine if you should invest in ZIP code 88348 for Section 8 properties, follow this decision tree:

Does FMR $1,000 (metro FY 2026) clear debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not invest in this area as the Fair Market Rent (FMR) does not cover the cost of owning a property.
Is market rent above, at, or below FMR?
- If above: The area may be overpriced relative to what tenants can afford, making it less attractive for Section 8 investments.
- If at or below: Move to the third question, as the market rent aligns with the affordability of FMR.
Are 0.0% renters and N/A-day days on market (DOM) enough demand?
- If the percentage of renters is significantly higher than 0.0%, and DOM is low: There is strong demand for rental properties, which is positive for Section 8 investments.
- If the percentage of renters remains at 0.0% and DOM is high: Demand is weak, leading to a clear no on investing in this ZIP code.
- If it's close to 0.0% but not quite, and DOM is moderate: It depends on other factors such as vacancy rates, competition, and local economic conditions.

The decision hinges on whether the FMR of $1,000 can sustain ownership costs and if the market rent is within the tenant's budget. Additionally, the presence of renters and the speed at which properties sell indicate the health of the rental market. Without sufficient demand, even a favorable FMR and market rent scenario would not support investment.

Note: Due to incomplete data, specific percentages and DOM values could not be provided. Ensure you gather comprehensive local market data before making an investment decision.

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.