Location: Otero County, NM | Metro: Otero County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 88354 presents a unique challenge for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 29, it's evident that this area is extremely small, making broad generalizations about rental demand difficult. The data indicates that there are no renters recorded in this ZIP code, suggesting a predominantly homeowner-dominated area.
Given the lack of renters, it's reasonable to infer that the availability of housing vouchers would be scarce. However, the absence of renters could also mean that any available vouchers might have a significant impact on the local rental market. The median household income is listed as N/A, which means there isn't enough data to provide an accurate figure for comparison against market rents or Fair Market Rents (FMR).
The FMR for the area is set at $970 per month for FY 2026, according to the metropolitan guidelines. Without specific data on the median income, it's impossible to determine what percentage of local income typical rent consumes. Nonetheless, landlords should be aware that the FMR sets the maximum allowable rent for Section 8 vouchers, meaning that any rental property priced above $970 will likely not attract tenants using these vouchers.
In such a small and sparsely populated ZIP code, landlords can expect a limited number of potential Section 8 tenants. These tenants will be subject to the voucher program's rules and funding constraints. The tenant profile in this area would likely consist of individuals or families who qualify for assistance due to low-income status, though the exact characteristics of these tenants remain unclear without further demographic data.
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.