Location: Union County, NM | Metro: Oldham County, TX HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
ZIP 88430, located in Nara Visa, Union County, NM, is best suited as a diversifier in a Section 8 portfolio strategy. With a median income of $32,115, this area falls below the national average, indicating a significant portion of residents rely on government assistance programs such as Section 8. The 36.3% renter share further supports this classification.
The Fair Market Rent (FMR) for ZIP 88430 in fiscal year 2024 is set at $1010, which is notably lower than the national average. This figure aligns well with the typical income levels in the area, making it a suitable location for properties rented through the Section 8 program. While the median home value is not available, the low monthly rent of $930 for a two-bedroom apartment suggests that property values in this area are relatively stable and affordable.
Despite the lack of specific appreciation potential metrics, the area's characteristics make it a valuable diversification tool for landlords and small-portfolio investors. By including properties in ZIP 88430, investors can balance their portfolio with areas that have higher appreciation potential but may also come with higher risks and less stable rental income.
In summary, ZIP 88430 should be considered a diversifier within a Section 8 portfolio due to its high renter share, median income level, and stable FMR. This strategic inclusion helps mitigate risk and ensures a steady cash flow, essential for maintaining a balanced investment portfolio.
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.