New Mexico · FIPS 35061 · HUD FY 2027
Valencia County, New Mexico Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Valencia County is $1,384 a month (rent plus utilities), 8% above the New Mexico average of $1,282 and 21% below the U.S. average of $1,761. That is down $80 (5.5%) from FY 2026. At 30% of income, a household needs about $55,360 a year to afford it.
- $1,3842-bedroom FMR−$80 (−5.5%) vs FY 2026
- $1,1121-bedroom FMRNew Mexico: $1,051 · U.S.: $1,478
- $55,360Income for a 2-bedroom$27/hour full-time
- 3 of 332BR rank in New Mexico1 = highest rent
| Unit | Valencia County FY 2027 | FY 2026 | Change | New Mexico avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $977 | $1,009 | −$32 (−3.2%) | $935 | $1,379 | $39,080 |
| 1 bedroom | $1,112 | $1,185 | −$73 (−6.2%) | $1,051 | $1,478 | $44,480 |
| 2 bedrooms | $1,384 | $1,464 | −$80 (−5.5%) | $1,282 | $1,761 | $55,360 |
| 3 bedrooms | $1,902 | $2,036 | −$134 (−6.6%) | $1,716 | $2,266 | $76,080 |
| 4 bedrooms | $2,242 | $2,399 | −$157 (−6.5%) | $1,982 | $2,607 | $89,680 |
How Valencia County compares
- HUD sets this rent for the Albuquerque, NM metro FMR area, which covers 921,482 residents in 4 counties.
- Across New Mexico, 2-bedroom FMRs run from $1,014 (Union County) to $1,874 (Los Alamos County).
- Studio to 4-bedroom: $977, $1,112, $1,384, $1,902, $2,242. 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 5 ZIP codes mostly in Valencia County (by land area), the 2-bedroom figure ranges from $1,320 to $1,550.
Small Area FMRs by ZIP code in Valencia County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 87002 | $910 | $1,070 | $1,320 | $1,840 | $2,160 | +$120 (+10.0%) | 5% below |
| 87023 | $910 | $1,070 | $1,320 | $1,840 | $2,160 | +$120 (+10.0%) | 5% below |
| 87031 | $970 | $1,120 | $1,380 | $1,920 | $2,260 | −$150 (−9.8%) | about the same as |
| 87042 | $1,090 | $1,250 | $1,550 | $2,130 | $2,510 | +$200 (+14.8%) | 12% above |
| 87060 | $970 | $1,120 | $1,380 | $1,920 | $2,260 | −$150 (−9.8%) | about the same as |
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.