New Mexico · FIPS 35025 · HUD FY 2027
Lea County, New Mexico Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Lea County is $1,327 a month (rent plus utilities), 4% above the New Mexico average of $1,282 and 25% below the U.S. average of $1,761. That is up $3 (0.2%) from FY 2026. At 30% of income, a household needs about $53,080 a year to afford it.
- $1,3272-bedroom FMR+$3 (+0.2%) vs FY 2026
- $1,1171-bedroom FMRNew Mexico: $1,051 · U.S.: $1,478
- $53,080Income for a 2-bedroom$26/hour full-time
- 7 of 332BR rank in New Mexico1 = highest rent
| Unit | Lea County FY 2027 | FY 2026 | Change | New Mexico avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,111 | $1,062 | +$49 (+4.6%) | $935 | $1,379 | $44,440 |
| 1 bedroom | $1,117 | $1,068 | +$49 (+4.6%) | $1,051 | $1,478 | $44,680 |
| 2 bedrooms | $1,327 | $1,324 | +$3 (+0.2%) | $1,282 | $1,761 | $53,080 |
| 3 bedrooms | $1,670 | $1,641 | +$29 (+1.8%) | $1,716 | $2,266 | $66,800 |
| 4 bedrooms | $1,823 | $1,829 | −$6 (−0.3%) | $1,982 | $2,607 | $72,920 |
How Lea County compares
- Lea 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: $1,111, $1,117, $1,327, $1,670, $1,823. 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 11 ZIP codes mostly in Lea County (by land area), the 2-bedroom figure ranges from $1,200 to $1,660.
Small Area FMRs by ZIP code in Lea County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 88114 | $1,110 | $1,120 | $1,330 | $1,670 | $1,830 | +$10 (+0.8%) | about the same as |
| 88231 | $1,130 | $1,140 | $1,350 | $1,700 | $1,850 | −$60 (−4.3%) | 2% above |
| 88240 | $1,110 | $1,120 | $1,330 | $1,670 | $1,830 | no change | about the same as |
| 88242 | $1,390 | $1,400 | $1,660 | $2,090 | $2,280 | +$150 (+9.9%) | 25% above |
| 88244 | $1,110 | $1,120 | $1,330 | $1,670 | $1,830 | no change | about the same as |
| 88252 | $1,070 | $1,080 | $1,280 | $1,610 | $1,760 | +$200 (+18.5%) | 4% below |
| 88260 | $1,040 | $1,040 | $1,240 | $1,560 | $1,700 | −$10 (−0.8%) | 7% below |
| 88262 | $1,040 | $1,040 | $1,240 | $1,560 | $1,700 | −$10 (−0.8%) | 7% below |
| 88264 | $1,040 | $1,060 | $1,240 | $1,600 | $1,730 | +$10 (+0.8%) | 7% below |
| 88265 | $1,120 | $1,130 | $1,340 | $1,680 | $1,840 | −$20 (−1.5%) | 1% above |
| 88267 | $960 | $970 | $1,200 | $1,480 | $1,650 | +$50 (+4.3%) | 10% 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.