HUD publishes Fair Market Rent for 420 ZIP codes across 30 HUD FMR areas in NM. Two-bedroom FMR ranges from $1,010 to $2,080.
| Bedrooms | Average FY2027 FMR |
|---|---|
| Studio | $896 |
| 1 bedroom | $992 |
| 2 bedroom | $1,204 |
| 3 bedroom | $1,603 |
| 4 bedroom | $1,860 |
Across the 420 NM ZIP codes present in both years, the average two-bedroom Fair Market Rent increased from $1,179 to $1,204, a change of +$25 (+2.1%). Payment standards follow FMR, so an increase generally raises the ceiling a voucher can cover in NM.
NM is divided into 30 HUD FMR areas. Each sets its own rent standard, so the ceiling a voucher can cover changes depending on which area a unit sits in.
| FMR Area | ZIP Codes | Avg 2BR | 2BR Range |
|---|---|---|---|
| Santa Fe | 15 | $1,715 | $1,520 - $2,020 |
| Los Alamos County | 3 | $1,713 | $1,570 - $1,860 |
| Albuquerque | 71 | $1,451 | $1,320 - $2,080 |
| Lea County | 12 | $1,323 | $1,200 - $1,660 |
| Taos County | 21 | $1,267 | $1,160 - $1,630 |
| Eddy County | 10 | $1,230 | $1,170 - $1,280 |
| San Miguel County | 20 | $1,195 | $1,050 - $1,740 |
| Harding County | 2 | $1,190 | $1,010 - $1,370 |
| McKinley County | 24 | $1,165 | $1,010 - $1,570 |
| Curry County | 3 | $1,153 | $1,150 - $1,160 |
| Colfax County | 8 | $1,134 | $1,010 - $1,520 |
| Farmington | 14 | $1,133 | $1,010 - $1,470 |
| Rio Arriba County | 33 | $1,132 | $1,010 - $1,520 |
| Socorro County | 12 | $1,119 | $1,010 - $1,320 |
| Las Cruces | 27 | $1,119 | $1,010 - $1,520 |
| Guadalupe County | 4 | $1,095 | $1,010 - $1,320 |
| Cibola County | 12 | $1,087 | $1,010 - $1,430 |
| Lincoln County | 16 | $1,082 | $1,010 - $1,320 |
| Chaves County | 5 | $1,080 | $1,010 - $1,210 |
| Union County | 10 | $1,070 | $1,010 - $1,370 |
| Grant County | 18 | $1,062 | $1,010 - $1,110 |
| Roosevelt County | 14 | $1,062 | $1,010 - $1,330 |
| Quay County | 10 | $1,061 | $1,010 - $1,390 |
| Sierra County | 11 | $1,053 | $1,010 - $1,400 |
| Catron County | 6 | $1,052 | $1,010 - $1,060 |
| Otero County | 18 | $1,029 | $1,010 - $1,290 |
| Mora County | 12 | $1,023 | $1,010 - $1,170 |
| Luna County | 3 | $1,013 | $1,010 - $1,020 |
| De Baca County | 1 | $1,010 | $1,010 - $1,010 |
| Hidalgo County | 5 | $1,010 | $1,010 - $1,010 |
| ZIP | FMR Area | 2BR FMR |
|---|---|---|
| 87116 | Albuquerque | $2,080 |
| 87043 | Albuquerque | $2,080 |
| 87122 | Albuquerque | $2,080 |
| 87508 | Santa Fe | $2,020 |
| 87144 | Albuquerque | $1,990 |
| 87501 | Santa Fe | $1,960 |
| 87113 | Albuquerque | $1,910 |
| 87540 | Santa Fe | $1,900 |
| 87544 | Los Alamos County | $1,860 |
| 87505 | Santa Fe | $1,780 |
| 87083 | Albuquerque | $1,780 |
| 87111 | Albuquerque | $1,760 |
| 87574 | Santa Fe | $1,740 |
| 87592 | Santa Fe | $1,740 |
| 87594 | Santa Fe | $1,740 |
| 87502 | Santa Fe | $1,740 |
| 87056 | San Miguel County | $1,740 |
| 87504 | Santa Fe | $1,740 |
| 87535 | San Miguel County | $1,720 |
| 87547 | Los Alamos County | $1,710 |
| 87174 | Albuquerque | $1,710 |
| 87120 | Albuquerque | $1,700 |
| 87010 | Santa Fe | $1,690 |
| 87124 | Albuquerque | $1,680 |
| 88242 | Lea County | $1,660 |
| ZIP | FMR Area | 2BR FMR |
|---|---|---|
| 87714 | Colfax County | $1,010 |
| 88023 | Grant County | $1,010 |
| 88072 | Las Cruces | $1,010 |
| 87315 | Cibola County | $1,010 |
| 87729 | Colfax County | $1,010 |
| 88119 | De Baca County | $1,010 |
| 88021 | Las Cruces | $1,010 |
| 88048 | Las Cruces | $1,010 |
| 87937 | Las Cruces | $1,010 |
| 88063 | Las Cruces | $1,010 |
| 87357 | Cibola County | $1,010 |
| 87728 | Colfax County | $1,010 |
| 87747 | Colfax County | $1,010 |
| 88007 | Las Cruces | $1,010 |
| 87364 | Farmington | $1,010 |
| 87410 | Farmington | $1,010 |
| 88024 | Las Cruces | $1,010 |
| 87417 | Farmington | $1,010 |
| 87420 | Farmington | $1,010 |
| 87455 | Farmington | $1,010 |
| 87461 | Farmington | $1,010 |
| 88027 | Las Cruces | $1,010 |
| 88039 | Catron County | $1,010 |
| 88232 | Chaves County | $1,010 |
| 88026 | Grant County | $1,010 |
Fair Market Rent is not what a family pays and not what the voucher pays. The housing authority sets a payment standard from it, normally 90% to 110% of FMR. How voucher amounts are calculated.
Source: US Department of Housing and Urban Development, FY2027 Fair Market Rents.
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