HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in San Miguel County, New Mexico (FY 2027)
A two-bedroom in San Miguel County carries a FY 2027 Fair Market Rent of $1,077 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in San Miguel keys off that figure.
Two-bedroom FMR
$1,077
+6.8% from FY 2026
Payment standard
$969–$1,185
90% to 110% of the FMR, two-bedroom
Income to afford
$43,080
a year, with rent at 30% of income
Rank in New Mexico
14th of 33
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $796 | $716–$876 | $31,840 | $15.31/hr | +1.7% |
| 1 bedroom | $925 | $833–$1,018 | $37,000 | $17.79/hr | +0.5% |
| 2 bedroom | $1,077 | $969–$1,185 | $43,080 | $20.71/hr | +6.8% |
| 3 bedroom | $1,491 | $1,342–$1,640 | $59,640 | $28.67/hr | +6.3% |
| 4 bedroom | $1,689 | $1,520–$1,858 | $67,560 | $32.48/hr | +3.9% |
Five to eight 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 | $1,942 | $1,748–$2,136 |
| 6 bedroom Estimate | $2,196 | $1,976–$2,416 |
| 7 bedroom Estimate | $2,449 | $2,204–$2,694 |
| 8 bedroom Estimate | $2,702 | $2,432–$2,972 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
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.
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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 $969 and $1,185. 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.
$1,077 a month is affordable, by HUD's 30% rule, on an income of roughly $43,080 a year. Put another way, $21 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$969 | Voucher pays at 100%$1,077 | Voucher pays at 110%$1,185 |
|---|---|---|---|---|
| $2,500 | $750 | $219 | $327 | $435 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 7% from FY 2026 ($1,008) to FY 2027 ($1,077). Since FY 2020 it's up 40% in total, about 4.9% a year. The New Mexico median moved up 2% over the same year.
| Fiscal 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 2027In effect | $796 | $925 | $1,077 | $1,491 | $1,689 | +6.8% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In San Miguel, that runs from $796 for a studio up to $1,689 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 14th for two-bedroom FMR. That's within a couple percent of the state median of $1,063 and within a couple percent of the national median county at $1,063. About 26,850 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 $1,060 in 87742 (Rociada) and $1,550 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 | $1,190 | +10.5% |
| 87552 | Pecos | $1,520 | +41.1% |
| 87560 | Ribera | $1,080 | +0.3% |
| 87562 | Rowe | $1,080 | +0.3% |
| 87565 | San Jose | $1,080 | +0.3% |
| 87569 | Serafina | $1,080 | +0.3% |
| 87573 | Tererro | $1,550 | +43.9% |
| 87583 | Villanueva | $1,080 | +0.3% |
| 87701 | Las Vegas | $1,070 | -0.6% |
| 87731 | Montezuma | $1,120 | +4.0% |
| 87742 | Rociada | $1,060 | -1.6% |
| 87745 | Sapello | $1,080 | +0.3% |
| 88416 | Conchas Dam | $1,080 | +0.3% |
| 88421 | Garita | $1,080 | +0.3% |
| 88439 | Trementina | $1,080 | +0.3% |
Nearby counties
Two-bedroom FMR, with how each compares to San Miguel.
Mora County
33 mi · 4,149 people
$1,014
-6%
Santa Fe County
42 mi · 156,105 people
$1,735
+61%
Guadalupe County
44 mi · 4,381 people
$1,014
-6%
Los Alamos County
62 mi · 19,435 people
$1,874
+74%
Torrance County
69 mi · 15,490 people
$1,384
+29%
Harding County
70 mi · 741 people
$1,059
-2%
Colfax County
71 mi · 12,322 people
$1,014
-6%
Taos County
71 mi · 34,543 people
$1,292
+20%
Questions people ask
$1,077 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $796 for a studio, $925 for one bedroom, $1,491 for three and $1,689 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The 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. Free to start, no card.
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