HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in San Miguel County, New Mexico (FY 2026)
A two-bedroom in San Miguel County carries a FY 2026 Fair Market Rent of $1,008 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in San Miguel keys off that figure.
2 bedroom FMR
$1,008
FY 2026, utilities included
Payment standard range
$907 to $1,109
90% to 110% of FMR
Income to afford 2BR
$40,320
per year, at 30% of income
Rank in New Mexico
18th of 33
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in San Miguel moves to $1,077. That's up 7%. 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 | $783 | $705 to $861 | $31,320 | $15.06/hr | +4.0% |
| 1 bedroom | $920 | $828 to $1,012 | $36,800 | $17.69/hr | +9.1% |
| 2 bedroom | $1,008 | $907 to $1,109 | $40,320 | $19.38/hr | +8.0% |
| 3 bedroom | $1,402 | $1,262 to $1,542 | $56,080 | $26.96/hr | +7.3% |
| 4 bedroom | $1,626 | $1,463 to $1,789 | $65,040 | $31.27/hr | +5.0% |
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 | $1,870 | $1,683 to $2,057 |
| 6 bedroom Estimate | $2,114 | $1,903 to $2,325 |
| 7 bedroom Estimate | $2,358 | $2,122 to $2,594 |
| 8 bedroom Estimate | $2,602 | $2,342 to $2,862 |
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 $783 for a studio up to $1,626 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, Ilfeld included.
Among New Mexico's 33 counties, San Miguel ranks 18th for two-bedroom FMR. That's about 3% below the state median of $1,040 and within a couple percent of the national median county at $1,018. About 27,215 people live here, 16th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $970 in 87560 (Ribera) and $1,720 in 87573 (Tererro), with the 15 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 |
|---|---|---|---|
| 87538 | Ilfeld | $1,010 | +0.2% |
| 87552 | Pecos | $1,470 | +45.8% |
| 87560 | Ribera | $970 | -3.8% |
| 87562 | Rowe | $1,010 | +0.2% |
| 87565 | San Jose | $990 | -1.8% |
| 87569 | Serafina | $1,000 | -0.8% |
| 87573 | Tererro | $1,720 | +70.6% |
| 87583 | Villanueva | $970 | -3.8% |
| 87701 | Las Vegas | $1,020 | +1.2% |
| 87731 | Montezuma | $1,010 | +0.2% |
| 87742 | Rociada | $1,000 | -0.8% |
| 87745 | Sapello | $1,010 | +0.2% |
| 88416 | Conchas Dam | $1,010 | +0.2% |
| 88421 | Garita | $1,020 | +1.2% |
| 88439 | Trementina | $1,010 | +0.2% |
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 $907 and $1,109. 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.
$1,008 a month is affordable, by HUD's 30% rule, on an income of roughly $40,320 a year. Put another way, $19 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% ($907) | HAP at 100% ($1,008) | HAP at 110% ($1,109) |
|---|---|---|---|---|
| $2,500 | $750 | $157 | $258 | $359 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 8% from FY 2025 ($933) to FY 2026 ($1,008). Since FY 2020 it's up 31% in total, about 4.5% 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 | $601 | $636 | $772 | $1,001 | $1,088 | — |
| FY 2021 | $673 | $677 | $800 | $1,054 | $1,085 | +3.6% |
| FY 2022 | $626 | $637 | $726 | $967 | $985 | -9.3% |
| FY 2023 | $676 | $704 | $795 | $1,055 | $1,254 | +9.5% |
| FY 2024 | $703 | $781 | $877 | $1,186 | $1,384 | +10.3% |
| FY 2025 | $753 | $843 | $933 | $1,307 | $1,549 | +6.4% |
| FY 2026 | $783 | $920 | $1,008 | $1,402 | $1,626 | +8.0% |
| FY 2027 | $796 | $925 | $1,077 | $1,491 | $1,689 | +6.8% |
Nearby counties
Questions people ask
$1,008 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $783 for a studio, $920 for one bedroom, $1,402 for three and $1,626 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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