Location: Union County, NM | Metro: Colfax County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 88419 presents a unique challenge for landlords and small-portfolio investors looking to attract Section 8 tenants. With a population of 61 residents, the area has a negligible percentage of renters at 0.0%, indicating that it is overwhelmingly dominated by homeowners rather than renters. This homeowner prevalence suggests that there is likely very little demand for rental properties in this ZIP code, making it an unattractive target for those specifically seeking to cater to a Section 8 tenant pool.
The median household income in ZIP 88419 is notably high at $96,250. While this figure provides insight into the economic status of the area, the lack of specific market rent data means we cannot directly calculate the proportion of income that goes towards rent. However, comparing the median income to the Fair Market Rent (FMR) of $970, which is applicable for the fiscal year 2026 in the metro area, reveals that the typical rent represents less than 1% of the local median income. This implies that even if market rent data were available, it would likely be a small fraction of the income, suggesting that financial stress due to rent is minimal for most residents.
Given the characteristics of ZIP 88419, landlords should not expect a significant number of Section 8 tenants. The scarcity of renters and the high median income indicate that potential tenants would most likely be individuals or families who can afford market-rate housing without the need for government assistance. Landlords in this area should prepare to engage with a tenant pool that is financially stable and capable of meeting rent obligations without subsidies. The focus should be on attracting and retaining tenants who value the amenities and lifestyle offered by this particular ZIP code, rather than relying on a voucher-heavy tenant base.
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.