FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR- 87021
1.11ratio
FMR$910
Market$820
vs market+$90
FMR is above market; underwrite to market rent.
1.11
2 BR
2 BR- 87021
1.09ratio
FMR$1,090
Market$1,000
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.09
3 BR
3 BR- 87021
1.17ratio
FMR$1,300
Market$1,110
vs market+$190
FMR is above market; underwrite to market rent.
1.17
4 BR
4 BR- 87021
1.22ratio
FMR$1,430
Market$1,170
vs market+$260
FMR is above market; underwrite to market rent.
1.22
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Milan, NM fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Milan, NM is $1,090 a month. That is up 7.9% from $1,010 in FY 2026. Milan is in the Cibola County, NM non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,022. The median county two-bedroom FMR in New Mexico is $1,063, so Milan is 3% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Milan, NM
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$750
$870
+16.0%
$783–$957
1BR
$840
$910
+8.3%
$819–$1,001
2BR
$1,010
$1,090
+7.9%
$981–$1,199
3BR
$1,240
$1,300
+4.8%
$1,170–$1,430
4BR
$1,340
$1,430
+6.7%
$1,287–$1,573
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Milan, NM
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$870
$910
$1,090
$1,300
$1,430
FY 2026
$750
$840
$1,010
$1,240
$1,340
FY 2025
$680
$790
$940
$1,180
$1,250
FY 2024area FMR
$629
$700
$880
$1,065
$1,172
FY 2023area FMR
$643
$644
$817
$994
$1,098
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Milan, NM rents
How much will Section 8 pay for a two-bedroom in Milan, NM?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,022, which applies unless the housing authority uses Small Area FMRs, that basic range is $920 to $1,124 a month; under the ZIP-level Small Area FMR of $1,090 it would be $981 to $1,199. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Milan, NM in?
Milan, NM is in the Cibola County, NM non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,022.
How much did fair market rent change in Milan, NM for FY 2027?
The two-bedroom FMR rose 7.9%, from $1,010 in FY 2026 to $1,090 in FY 2027. Since FY 2025 it has risen 16.0%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set