HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Lea County, New Mexico (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Lea County is $1,324 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,324
FY 2026, utilities included
Payment standard range
$1,192 to $1,456
90% to 110% of FMR
Income to afford 2BR
$52,960
per year, at 30% of income
Rank in New Mexico
7th of 33
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Lea moves to $1,327. That's unchanged. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Lea actually rent for?
Search any address in Lea 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 | $1,062 | $956 to $1,168 | $42,480 | $20.42/hr | +31.8% |
| 1 bedroom | $1,068 | $961 to $1,175 | $42,720 | $20.54/hr | +23.9% |
| 2 bedroom | $1,324 | $1,192 to $1,456 | $52,960 | $25.46/hr | +17.1% |
| 3 bedroom | $1,641 | $1,477 to $1,805 | $65,640 | $31.56/hr | +17.5% |
| 4 bedroom | $1,829 | $1,646 to $2,012 | $73,160 | $35.17/hr | +14.4% |
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 | $2,103 | $1,893 to $2,313 |
| 6 bedroom Estimate | $2,378 | $2,140 to $2,616 |
| 7 bedroom Estimate | $2,652 | $2,387 to $2,917 |
| 8 bedroom Estimate | $2,926 | $2,633 to $3,219 |
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 Lea, that runs from $1,062 for a studio up to $1,829 for four bedrooms, all five rates in the table above.
Because Lea 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, Hobbs included.
Among New Mexico's 33 counties, Lea ranks 7th for two-bedroom FMR. That's about 27% above the state median of $1,040 and about 30% above the national median county at $1,018. About 73,103 people live here, 7th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,080 in 88252 (Jal) and $1,510 in 88242 (Hobbs), with the 13 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.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 88114 | Crossroads | $1,320 | -0.3% |
| 88213 | Caprock | $1,320 | -0.3% |
| 88231 | Eunice | $1,410 | +6.5% |
| 88240 | Hobbs | $1,330 | +0.5% |
| 88241 | Hobbs | $1,320 | -0.3% |
| 88242 | Hobbs | $1,510 | +14.0% |
| 88244 | Hobbs | $1,330 | +0.5% |
| 88252 | Jal | $1,080 | -18.4% |
| 88260 | Lovington | $1,250 | -5.6% |
| 88262 | Mcdonald | $1,250 | -5.6% |
| 88264 | Maljamar | $1,230 | -7.1% |
| 88265 | Monument | $1,360 | +2.7% |
| 88267 | Tatum | $1,150 | -13.1% |
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 Lea somewhere between $1,192 and $1,456. 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.
$1,324 a month is affordable, by HUD's 30% rule, on an income of roughly $52,960 a year. Put another way, $25 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% ($1,192) | HAP at 100% ($1,324) | HAP at 110% ($1,456) |
|---|---|---|---|---|
| $2,500 | $750 | $442 | $574 | $706 |
| $4,000 | $1,200 | $0 | $124 | $256 |
Rate history
The two-bedroom rate went up 17% from FY 2025 ($1,131) to FY 2026 ($1,324). Since FY 2020 it's up 39% in total, about 5.7% a year. The New Mexico median moved up 11% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $717 | $722 | $951 | $1,239 | $1,434 | — |
| FY 2021 | $749 | $779 | $1,026 | $1,327 | $1,507 | +7.9% |
| FY 2022 | $675 | $707 | $930 | $1,205 | $1,357 | -9.4% |
| FY 2023 | $688 | $776 | $1,021 | $1,319 | $1,463 | +9.8% |
| FY 2024 | $801 | $889 | $1,168 | $1,487 | $1,642 | +14.4% |
| FY 2025 | $806 | $862 | $1,131 | $1,397 | $1,599 | -3.2% |
| FY 2026 | $1,062 | $1,068 | $1,324 | $1,641 | $1,829 | +17.1% |
| FY 2027 | $1,111 | $1,117 | $1,327 | $1,670 | $1,823 | +0.2% |
Nearby counties
Questions people ask
$1,324 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,062 for a studio, $1,068 for one bedroom, $1,641 for three and $1,829 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 Lea actually go for?
HUD's number is one input. Search any address in Lea for a rent estimate built from nearby comps. 3 free searches, no card.
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