Location: Union County, NM | Metro: Colfax County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 88414, located in Union County, New Mexico, offers a unique opportunity for real estate investors. The HUD Fair Market Rent (FMR) for the area is set at $970 per month for the fiscal year 2026. However, the lack of available market rent data for comparison makes it challenging to determine the exact cash flow potential for landlords accepting Section 8 vouchers.
To derive insights into the rental market dynamics, we must consider the median home value in the area, which is also currently unavailable. Without this figure, calculating the precise rent-to-price ratio is impossible. Nonetheless, it's worth noting that the absence of market rent data suggests a less competitive rental environment, which could imply that voucher tenants paying the FMR would likely cashflow at a minimum, assuming the local rental market does not significantly exceed the HUD FMR.
The data on the days on market (DOM) and the percentage of price cuts are not available, indicating a stable market where properties do not linger long on the market nor require significant price reductions. This stability is crucial for both rent versus buy dynamics and for investors looking for consistent income streams.
In conclusion, given the current HUD FMR and the absence of competing market rent data, landlords in ZIP 88414 can expect marginal cash flow when accepting Section 8 vouchers, contingent upon the actual local rental rates. The strongest investor angle in this market is stability, offering a reliable and predictable investment opportunity in a region with limited volatility.
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.