New Mexico · FIPS 35005 · HUD FY 2027
Chaves County, New Mexico Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Chaves County is $1,091 a month (rent plus utilities), 15% below the New Mexico average of $1,282 and 38% below the U.S. average of $1,761. That is up $20 (1.9%) from FY 2026. At 30% of income, a household needs about $43,640 a year to afford it.
- $1,0912-bedroom FMR+$20 (+1.9%) vs FY 2026
- $8921-bedroom FMRNew Mexico: $1,051 · U.S.: $1,478
- $43,640Income for a 2-bedroom$21/hour full-time
- 13 of 332BR rank in New Mexico1 = highest rent
| Unit | Chaves County FY 2027 | FY 2026 | Change | New Mexico avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $868 | $738 | +$130 (+17.6%) | $935 | $1,379 | $34,720 |
| 1 bedroom | $892 | $887 | +$5 (+0.6%) | $1,051 | $1,478 | $35,680 |
| 2 bedrooms | $1,091 | $1,071 | +$20 (+1.9%) | $1,282 | $1,761 | $43,640 |
| 3 bedrooms | $1,476 | $1,421 | +$55 (+3.9%) | $1,716 | $2,266 | $59,040 |
| 4 bedrooms | $1,624 | $1,562 | +$62 (+4.0%) | $1,982 | $2,607 | $64,960 |
How Chaves County compares
- Chaves County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across New Mexico, 2-bedroom FMRs run from $1,014 (Union County) to $1,874 (Los Alamos County).
- Studio to 4-bedroom: $868, $892, $1,091, $1,476, $1,624. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 7 ZIP codes mostly in Chaves County (by land area), the 2-bedroom figure ranges from $1,010 to $1,240.
Small Area FMRs by ZIP code in Chaves County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 88201 | $960 | $990 | $1,210 | $1,640 | $1,800 | +$30 (+2.5%) | 11% above |
| 88203 | $810 | $830 | $1,020 | $1,380 | $1,520 | no change | 7% below |
| 88230 | $850 | $880 | $1,070 | $1,450 | $1,590 | +$60 (+5.9%) | 2% below |
| 88232 | $810 | $830 | $1,010 | $1,380 | $1,520 | +$40 (+4.1%) | 7% below |
| 88250 | $980 | $1,070 | $1,180 | $1,630 | $1,740 | +$60 (+5.4%) | 8% above |
| 88253 | $1,000 | $1,050 | $1,240 | $1,690 | $1,850 | +$60 (+5.1%) | 14% above |
| 88339 | $710 | $880 | $1,010 | $1,410 | $1,700 | +$40 (+4.1%) | 7% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.