Location: Union County, NM | Metro: Colfax County, NM
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $890 |
| 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 analysis of ZIP 88422 reveals several key points that are crucial for landlords and small-portfolio investors considering investment in this area.
Does the rent math work? The Fair Market Rent (FMR) for the Union County, NM metro area for fiscal year 2026 is set at $1,000. However, the market rent data is currently unavailable, making it impossible to directly compare the two figures. This lack of market rent data poses a challenge in assessing whether renting properties at the FMR would be profitable or competitive in the local market.
Is acquisition affordable? Without specific data on the median home value, days on market (DOM), and the percentage of homes that have been discounted, it's difficult to provide a concrete assessment. Typically, these metrics would give insight into the affordability of acquiring properties and the level of competition in the housing market. The absence of such data suggests that further investigation is necessary to determine the cost-effectiveness of property acquisition in ZIP 88422.
Is there tenant demand? The population of ZIP 88422 stands at 117 individuals, with a significant 28.1% of residents being renters. This indicates a relatively low but steady demand for rental properties. Given the small population size, the number of potential tenants is limited, which could affect the occupancy rates and the overall viability of rental investments.
Verdict: While the Fair Market Rent provides a benchmark for setting rental prices, the lack of specific market data makes it challenging to definitively assess the profitability of rental properties in ZIP 88422. The tenant demand is present, but the small population size limits the scale of potential investments. Landlords and small-portfolio investors should proceed with caution, ensuring they gather comprehensive local market data before committing to any acquisitions. The affordability of property acquisition remains uncertain without detailed information on median home values and market conditions.
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.