HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Santa Fe County, New Mexico (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Santa Fe County is $1,685 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,685
FY 2026, utilities included
Payment standard range
$1,517 to $1,854
90% to 110% of FMR
Income to afford 2BR
$67,400
per year, at 30% of income
Rank in New Mexico
2nd of 33
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Santa Fe moves to $1,735. That's up 3%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Santa Fe actually rent for?
Search any address in Santa Fe 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 | $1,259 | $1,133 to $1,385 | $50,360 | $24.21/hr | +1.9% |
| 1 bedroom | $1,390 | $1,251 to $1,529 | $55,600 | $26.73/hr | +1.6% |
| 2 bedroom | $1,685 | $1,517 to $1,854 | $67,400 | $32.40/hr | +3.6% |
| 3 bedroom | $2,122 | $1,910 to $2,334 | $84,880 | $40.81/hr | +3.2% |
| 4 bedroom | $2,231 | $2,008 to $2,454 | $89,240 | $42.90/hr | +3.4% |
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 | $2,566 | $2,309 to $2,823 |
| 6 bedroom Estimate | $2,900 | $2,610 to $3,190 |
| 7 bedroom Estimate | $3,235 | $2,912 to $3,559 |
| 8 bedroom Estimate | $3,570 | $3,213 to $3,927 |
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 Santa Fe, that runs from $1,259 for a studio up to $2,231 for four bedrooms, all five rates in the table above.
Santa Fe is its own HUD metro area (Santa Fe, NM), so the rate here is set from rents inside the county rather than a wider region.
Among New Mexico's 33 counties, Santa Fe ranks 2nd for two-bedroom FMR. That's about 62% above the state median of $1,040 and about 66% above the national median county at $1,018. About 154,481 people live here, 3rd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,470 in 87056 (Stanley) and $2,050 in 87508 (Santa Fe), with the 16 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 |
|---|---|---|---|
| 87010 | Cerrillos | $1,660 | -1.5% |
| 87015 | Edgewood | $1,520 | -9.8% |
| 87056 | Stanley | $1,470 | -12.8% |
| 87501 | Santa Fe | $1,930 | +14.5% |
| 87502 | Santa Fe | $1,690 | +0.3% |
| 87503 | Santa Fe | $1,685County rate | — |
| 87504 | Santa Fe | $1,690 | +0.3% |
| 87505 | Santa Fe | $1,750 | +3.9% |
| 87506 | Santa Fe | $1,500 | -11.0% |
| 87507 | Santa Fe | $1,590 | -5.6% |
| 87508 | Santa Fe | $2,050 | +21.7% |
| 87509 | Santa Fe | $1,685County rate | — |
| 87535 | Glorieta | $1,580 | -6.2% |
| 87540 | Lamy | $1,910 | +13.4% |
| 87567 | Santa Cruz | $1,470 | -12.8% |
| 87574 | Tesuque | $1,690 | +0.3% |
| 87592 | Santa Fe | $1,690 | +0.3% |
| 87594 | Santa Fe | $1,690 | +0.3% |
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 Santa Fe somewhere between $1,517 and $1,854. 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.
$1,685 a month is affordable, by HUD's 30% rule, on an income of roughly $67,400 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% ($1,517) | HAP at 100% ($1,685) | HAP at 110% ($1,854) |
|---|---|---|---|---|
| $2,500 | $750 | $767 | $935 | $1,104 |
| $4,000 | $1,200 | $317 | $485 | $654 |
Rate history
The two-bedroom rate went up 4% from FY 2025 ($1,627) to FY 2026 ($1,685). Since FY 2020 it's up 59% in total, about 8.1% 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 | $802 | $928 | $1,057 | $1,376 | $1,534 | — |
| FY 2021 | $804 | $940 | $1,071 | $1,363 | $1,571 | +1.3% |
| FY 2022 | $842 | $975 | $1,113 | $1,419 | $1,729 | +3.9% |
| FY 2023 | $952 | $1,087 | $1,249 | $1,597 | $1,775 | +12.2% |
| FY 2024 | $1,171 | $1,317 | $1,535 | $1,960 | $2,044 | +22.9% |
| FY 2025 | $1,235 | $1,368 | $1,627 | $2,057 | $2,157 | +6.0% |
| FY 2026 | $1,259 | $1,390 | $1,685 | $2,122 | $2,231 | +3.6% |
| FY 2027 | $1,260 | $1,413 | $1,735 | $2,134 | $2,280 | +3.0% |
Nearby counties
Los Alamos County
$1,74025 mi · pop 19,253
Sandoval County
$1,46440 mi · pop 149,460
San Miguel County
$1,00842 mi · pop 27,215
Bernalillo County
$1,46450 mi · pop 674,692
Rio Arriba County
$97353 mi · pop 40,285
Mora County
$97354 mi · pop 4,208
Torrance County
$1,46459 mi · pop 15,203
Taos County
$1,27965 mi · pop 34,475
Questions people ask
$1,685 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,259 for a studio, $1,390 for one bedroom, $2,122 for three and $2,231 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 Santa Fe actually go for?
HUD's number is one input. Search any address in Santa Fe for a rent estimate built from nearby comps. 3 free searches, no card.
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