Fair Market Rent in New Mexico by county (FY 2026)

New Mexico's median two-bedroom FMR is $1,040, just above the $1,018 national number. That's a tighter gap than most states show. Los Alamos County has the highest 2BR rate at $1,740, even though only 19,253 people live there. Union County sits at the bottom at $973, with just 4,074 residents. The Albuquerque metro area covers four counties, Bernalillo, Sandoval, Torrance, and Valencia, all sharing the same base rate on paper. But if you're renting a specific ZIP code, Bernalillo County is where that flattens out. Its Small Area FMRs stretch from $1,230 to $2,200 across 46 of 48 ZIP codes, so the metro-wide number hides a real spread underneath.

7 of the 33 counties sit inside a HUD metro area and share that metro's rate. The other 26 get a county rate built from their own rents. The New Mexico median of $1,040 is about 2% above the national median county ($1,018). HUD also publishes ZIP-level Small Area FMRs covering 33 of the 33 counties, which is where the real variation shows up. Pick a county below for the full studio-to-four-bedroom table, payment standard ranges and ZIP rates.

The median two-bedroom moved up 11% from FY 2025. 33 counties went up, 0 went down, and the rest held.

HUD has already published FY 2027, effective October 1, 2026. Two-bedroom rates go up in 29 counties, down in 4, and hold in the rest. The table shows both years.