Location: Quay County, NM | Metro: Guadalupe County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 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 Fair Market Rent (FMR) for ZIP code 88417 in metro FY 2026 is set at $970. This figure represents the payment standard for Section 8 housing vouchers in your area. It's important to note that this does not equate to the rent you will receive from tenants; rather, it's the maximum amount the Housing Authority will pay on behalf of eligible tenants.
In ZIP 88417, the FMR of $970 indicates the average rent for a modest apartment in the region. However, the local median rent is listed as N/A, which suggests there might be limited data available for direct comparison. Despite this, the 60.7% share of renters in the area points towards a strong demand for affordable housing options, making Section 8 properties attractive to many potential tenants.
The percentage of renters in the area, at 60.7%, highlights that the majority of residents prefer renting over owning homes. This high proportion of renters can translate into a steady stream of interested applicants for your Section 8 property, ensuring occupancy and consistent income.
Regarding the acquisition cost of properties in ZIP 88417, the data also lists it as N/A, indicating that specific figures are not available. However, this should not deter you from investing in the area. Instead, focus on finding properties that are reasonably priced and well-maintained, which will likely fall within the acceptable range for voucher payments.
Before committing to a Section 8 rental in ZIP 88417, ensure that the property meets the Housing Quality Standards (HQS) required by the Housing Authority. These standards are designed to ensure safe and decent living conditions for tenants and compliance is mandatory for participation in the program.
In summary, the FMR of $970 in ZIP 88417 signifies the maximum subsidy for Section 8 vouchers. With a significant portion of the population choosing to rent, there is a robust market for your investment. The key to success lies in verifying that your property meets the necessary HQS before proceeding.
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.