Section 8 Fair Market Rent (FMR) for ZIP 88418 - 2027

Location: Union County, NM | Metro: Union County, NM

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,400
4 Bedrooms	$1,600
5 Bedrooms	$1,856
6 Bedrooms	$2,079
7 Bedrooms	$2,245
8 Bedrooms	$2,357

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

536

Median Household Income

$77,813

Housing Units

180

Renter Percentage

25.2%

Occupancy Rate

77.2%

Renter Occupied

The ZIP code 88418, located in Las Cruces, New Mexico, is characterized by its stable housing market and significant presence of renters. This area offers a unique opportunity for landlords and small-portfolio investors due to the high demand for rental properties and the availability of federal assistance programs.

Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970: This figure represents the maximum amount that a landlord can charge for a two-bedroom apartment under the Section 8 program, ensuring a steady income stream for those who qualify.
Rental market data is currently unavailable: Despite the lack of specific rental price data, the high percentage of renters suggests strong demand for affordable housing options.
Median home value is not available: While the exact median home value is unknown, the focus on rental properties indicates a niche market that could be advantageous for investors looking to avoid fluctuations in home values.
25.2% of residents are renters: A quarter of the population relies on rental housing, which supports the idea that there is a consistent need for quality rental units in the area.
Median income stands at $77,813: This relatively moderate income level means that many residents will rely on subsidies such as Section 8 to afford housing, making it a prime location for subsidized rental properties.

In summary, ZIP 88418 presents a solid investment opportunity for those interested in the rental market, particularly through Section 8. With a clear demand for rental properties and a defined fair market rent, investors can expect a predictable revenue model. The reliance on federal assistance programs and the moderate median income further support the viability of this market for those looking to invest in affordable housing solutions.

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.