Location: Union County, NM | Metro: Harding County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The ZIP code 88410 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue due to the disparity between the market rent and the Fair Market Rent (FMR) of $1,110 for fiscal year 2026, which is set for the metro area. This difference can lead to tenants leaving when they find higher-paying jobs or better housing opportunities outside the program.
Vacancy exposure is another concern. With no data available on the days on market (DOM), it's difficult to predict how long properties might remain vacant between tenants. High vacancy periods can significantly impact cash flow and profitability.
Deferred maintenance is also a risk factor. The median income of $36,042 in ZIP 88410 may limit residents' ability to contribute to repairs and upkeep beyond the basic necessities, potentially leading to higher maintenance costs for landlords.
However, these risks are somewhat mitigated by the high concentration of renters in the area, with a 22.2% renter share. This high density of renters typically translates into a robust demand for rental properties, including those accepting Section 8 vouchers. A larger pool of potential tenants can help stabilize occupancy rates and reduce the likelihood of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.