New Mexico · FIPS 35049 · HUD FY 2027
Santa Fe County, New Mexico Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Santa Fe County is $1,735 a month (rent plus utilities), 35% above the New Mexico average of $1,282 and 1% below the U.S. average of $1,761. That is up $50 (3.0%) from FY 2026. At 30% of income, a household needs about $69,400 a year to afford it.
- $1,7352-bedroom FMR+$50 (+3.0%) vs FY 2026
- $1,4131-bedroom FMRNew Mexico: $1,051 · U.S.: $1,478
- $69,400Income for a 2-bedroom$33/hour full-time
- 2 of 332BR rank in New Mexico1 = highest rent
| Unit | Santa Fe County FY 2027 | FY 2026 | Change | New Mexico avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,260 | $1,259 | +$1 (+0.1%) | $935 | $1,379 | $50,400 |
| 1 bedroom | $1,413 | $1,390 | +$23 (+1.7%) | $1,051 | $1,478 | $56,520 |
| 2 bedrooms | $1,735 | $1,685 | +$50 (+3.0%) | $1,282 | $1,761 | $69,400 |
| 3 bedrooms | $2,134 | $2,122 | +$12 (+0.6%) | $1,716 | $2,266 | $85,360 |
| 4 bedrooms | $2,280 | $2,231 | +$49 (+2.2%) | $1,982 | $2,607 | $91,200 |
How Santa Fe County compares
- HUD sets this rent for the Santa Fe, NM metro FMR area, which covers 156,105 residents in 1 county.
- Across New Mexico, 2-bedroom FMRs run from $1,014 (Union County) to $1,874 (Los Alamos County).
- Studio to 4-bedroom: $1,260, $1,413, $1,735, $2,134, $2,280. 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 12 ZIP codes mostly in Santa Fe County (by land area), the 2-bedroom figure ranges from $1,520 to $2,020.
Small Area FMRs by ZIP code in Santa Fe County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 87010 | $1,230 | $1,380 | $1,690 | $2,080 | $2,220 | +$30 (+1.8%) | 3% below |
| 87015 | $1,140 | $1,260 | $1,520 | $1,910 | $2,160 | no change | 12% below |
| 87056 | $1,260 | $1,420 | $1,740 | $2,140 | $2,290 | +$270 (+18.4%) | about the same as |
| 87501 | $1,420 | $1,600 | $1,960 | $2,410 | $2,580 | +$30 (+1.6%) | 13% above |
| 87505 | $1,290 | $1,450 | $1,780 | $2,190 | $2,340 | +$30 (+1.7%) | 3% above |
| 87506 | $1,140 | $1,260 | $1,570 | $1,910 | $2,560 | +$70 (+4.7%) | 10% below |
| 87507 | $1,160 | $1,290 | $1,590 | $1,960 | $2,090 | no change | 8% below |
| 87508 | $1,470 | $1,640 | $2,020 | $2,480 | $2,650 | −$30 (−1.5%) | 16% above |
| 87522 | $1,140 | $1,260 | $1,520 | $1,910 | $2,010 | +$50 (+3.4%) | 12% below |
| 87535 | $1,260 | $1,420 | $1,720 | $2,180 | $2,360 | +$140 (+8.9%) | 1% below |
| 87540 | $1,380 | $1,540 | $1,900 | $2,330 | $2,490 | −$10 (−0.5%) | 10% above |
| 87567 | $1,140 | $1,260 | $1,520 | $1,910 | $2,010 | +$50 (+3.4%) | 12% 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.