Section 8 Fair Market Rent (FMR) for ZIP 88436 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$820
2 Bedrooms	$1,050
3 Bedrooms	$1,410
4 Bedrooms	$1,620
5 Bedrooms	$1,879
6 Bedrooms	$2,104
7 Bedrooms	$2,272
8 Bedrooms	$2,386

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

28.0%

Renter Occupied

The ZIP code 88436 is located in Otero County, New Mexico, a region characterized by its rural setting and agricultural focus. This area is less densely populated compared to urban centers, which significantly impacts the local real estate market dynamics.

Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000. This figure represents the average rent that tenants can expect to pay for a standard two-bedroom apartment, providing a baseline for rental expectations in the area.
Rental market data is currently unavailable. The lack of recent rental market data suggests that the area may have limited rental properties, making it challenging to gauge current demand and pricing accurately.
The median home value is not available. Without specific figures on home values, it's difficult to assess the typical price range for residential properties in this ZIP code.
The renter share of the population is 0.0%, indicating a predominantly owner-occupied community. This statistic underscores the preference among residents to own rather than rent their homes, potentially reducing the attractiveness of rental investments.
The days on market (DOM) for listings is not available. This missing information makes it hard to determine how quickly properties sell in the area, affecting the liquidity and turnover rates of real estate investments.
The median household income is not available. Knowing the average income levels would be crucial for understanding the purchasing power of potential buyers or renters in the area.

Investors looking to enter the real estate market in ZIP 88436 should note the scarcity of rental data and the strong preference for homeownership among the local population. With the Fair Market Rent for the metro area being $1,000, this could serve as a guideline for investment properties, but the lack of specific metrics such as median home value and median income complicates accurate financial planning. The low renter share suggests that rental properties might struggle to attract tenants, making owner-occupied investments or vacation rentals more viable options. Overall, while there is potential for real estate investments, the limited availability of key market indicators necessitates thorough due diligence and perhaps a conservative approach to investment decisions.

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.