HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in San Miguel County, Colorado (FY 2026)
A two-bedroom in San Miguel County carries a FY 2026 Fair Market Rent of $1,645 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in San Miguel keys off that figure.
2 bedroom FMR
$1,645
FY 2026, utilities included
Payment standard range
$1,481 to $1,810
90% to 110% of FMR
Income to afford 2BR
$65,800
per year, at 30% of income
Rank in Colorado
18th of 64
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in San Miguel moves to $1,631. That's down 1%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in San Miguel actually rent for?
Search any address in San Miguel for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,245 | $1,121 to $1,370 | $49,800 | $23.94/hr | -5.5% |
| 1 bedroom | $1,254 | $1,129 to $1,379 | $50,160 | $24.12/hr | -5.4% |
| 2 bedroom | $1,645 | $1,481 to $1,810 | $65,800 | $31.63/hr | -5.6% |
| 3 bedroom | $2,288 | $2,059 to $2,517 | $91,520 | $44.00/hr | -6.2% |
| 4 bedroom | $2,579 | $2,321 to $2,837 | $103,160 | $49.60/hr | -8.1% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,966 | $2,669 to $3,263 |
| 6 bedroom Estimate | $3,353 | $3,018 to $3,688 |
| 7 bedroom Estimate | $3,740 | $3,366 to $4,114 |
| 8 bedroom Estimate | $4,126 | $3,713 to $4,539 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In San Miguel, that runs from $1,245 for a studio up to $2,579 for four bedrooms, all five rates in the table above.
Because San Miguel sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Egnar included.
Among Colorado's 64 counties, San Miguel ranks 18th for two-bedroom FMR. That's about 32% above the state median of $1,247 and about 62% above the national median county at $1,018. About 8,082 people live here, 40th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,580 in 81325 (Egnar) and $1,670 in 81435 (Telluride), with the 5 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in San Miguel somewhere between $1,481 and $1,810. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,645 a month is affordable, by HUD's 30% rule, on an income of roughly $65,800 a year. Put another way, $32 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,481) | HAP at 100% ($1,645) | HAP at 110% ($1,810) |
|---|---|---|---|---|
| $2,500 | $750 | $731 | $895 | $1,060 |
| $4,000 | $1,200 | $281 | $445 | $610 |
Rate history
The two-bedroom rate went down 6% from FY 2025 ($1,743) to FY 2026 ($1,645). Since FY 2020 it's up 21% in total, about 3.3% a year. The Colorado median held flat over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $884 | $1,030 | $1,357 | $1,877 | $2,105 | — |
| FY 2021 | $984 | $1,159 | $1,491 | $2,061 | $2,347 | +9.9% |
| FY 2022 | $1,112 | $1,296 | $1,673 | $2,137 | $2,687 | +12.2% |
| FY 2023 | $1,144 | $1,300 | $1,711 | $2,082 | $2,763 | +2.3% |
| FY 2024 | $1,312 | $1,473 | $1,936 | $2,341 | $3,117 | +13.2% |
| FY 2025 | $1,318 | $1,326 | $1,743 | $2,438 | $2,806 | -10.0% |
| FY 2026 | $1,245 | $1,254 | $1,645 | $2,288 | $2,579 | -5.6% |
| FY 2027 | $1,136 | $1,377 | $1,631 | $2,258 | $2,533 | -0.9% |
Nearby counties
Questions people ask
$1,645 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,245 for a studio, $1,254 for one bedroom, $2,288 for three and $2,579 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in San Miguel actually go for?
HUD's number is one input. Search any address in San Miguel for a rent estimate built from nearby comps. 3 free searches, no card.
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