New Mexico (NM)
STATESAFMRState Median Investment Score
76Below average
| BR | Rent | 3Y CAGR |
|---|---|---|
| 0 BR | $706 - $1,305▲Median: $822 | 5.7% |
| 1 BR | $775 - $1,433▲Median: $911 | 5.4% |
| 2 BR | $1,014 - $1,874▲Median: $1,077 | 5.0% |
| 3 BR | $1,218 - $2,233▲Median: $1,461 | 4.3% |
| 4 BR | $1,343 - $3,132▲Median: $1,689 | 3.1% |
Market Alignment
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
FMR is above market; underwrite to market rent.
Bedroom curve
Counties
Ranked by Investment Score (vs state median)
County map
New Mexico fair market rent by county, FY 2027
HUD's FY 2027 fair market rents cover 33 counties in New Mexico. The median county two-bedroom FMR is $1,063. That is up 2.2% from $1,040 in FY 2026. Two-bedroom FMRs run from $1,014 in Union County to $1,874 in Los Alamos County. 4 HUD metropolitan FMR areas cover 7 of those counties; each county in the same metro area shares one FMR. No area in New Mexico is required to use Small Area FMRs.
Two-bedroom FMR by county
| County | 2BR | Change | HUD FMR area |
|---|---|---|---|
| Los Alamos County | $1,874 | +7.7% | Non-metro |
| Santa Fe County | $1,735 | +3.0% | Santa Fe, NM MSA |
| Bernalillo County | $1,384 | −5.5% | Albuquerque, NM MSA |
| Sandoval County | $1,384 | −5.5% | Albuquerque, NM MSA |
| Torrance County | $1,384 | −5.5% | Albuquerque, NM MSA |
| Valencia County | $1,384 | −5.5% | Albuquerque, NM MSA |
| Lea County | $1,327 | +0.2% | Non-metro |
| Taos County | $1,292 | +1.0% | Non-metro |
| Eddy County | $1,252 | +5.4% | Non-metro |
| Curry County | $1,151 | +4.8% | Non-metro |
| McKinley County | $1,140 | +4.6% | Non-metro |
| San Juan County | $1,116 | +2.9% | Farmington, NM MSA |
| Chaves County | $1,091 | +1.9% | Non-metro |
| San Miguel County | $1,077 | +6.8% | Non-metro |
| Dona Ana County | $1,073 | +3.0% | Las Cruces, NM MSA |
| Grant County | $1,070 | +2.1% | Non-metro |
| Lincoln County | $1,063 | +6.4% | Non-metro |
| Catron County | $1,059 | +1.8% | Non-metro |
| Harding County | $1,059 | +1.8% | Non-metro |
| Cibola County | $1,022 | +2.9% | Non-metro |
| Quay County | $1,019 | +4.7% | Non-metro |
| Colfax County | $1,014 | +4.2% | Non-metro |
| De Baca County | $1,014 | +4.2% | Non-metro |
| Guadalupe County | $1,014 | +4.2% | Non-metro |
| Hidalgo County | $1,014 | +4.2% | Non-metro |
| Luna County | $1,014 | +4.2% | Non-metro |
| Mora County | $1,014 | +4.2% | Non-metro |
| Otero County | $1,014 | +4.2% | Non-metro |
| Rio Arriba County | $1,014 | +4.2% | Non-metro |
| Roosevelt County | $1,014 | +4.0% | Non-metro |
| Sierra County | $1,014 | +1.0% | Non-metro |
| Socorro County | $1,014 | +4.2% | Non-metro |
| Union County | $1,014 | +4.2% | Non-metro |
HUD metro FMR areas
| Metro area | Counties | 2BR |
|---|---|---|
| Santa Fe, NM MSA | 1 | $1,735 |
| Albuquerque, NM MSA | 4 | $1,384 |
| Farmington, NM MSA | 1 | $1,116 |
| Las Cruces, NM MSA | 1 | $1,073 |
Questions about New Mexico rents
What is the fair market rent in New Mexico?
HUD sets fair market rents by metro area and county, not statewide. For FY 2027 the median county two-bedroom FMR in New Mexico is $1,063. Look up the county or ZIP code to see the value that applies to a specific property.
Which New Mexico counties have the highest fair market rent?
For FY 2027, the highest two-bedroom FMRs are in Los Alamos County ($1,874), Santa Fe County ($1,735), Bernalillo County ($1,384).
Does New Mexico use Small Area Fair Market Rents?
No area in New Mexico is required to use them. Housing authorities use the metro or county FMR unless they choose to adopt Small Area FMRs.
Source: HUD FY 2027 Fair Market Rents. Change compares each county's two-bedroom FMR with FY 2026.
Data source: U.S. Department of Housing and Urban Development (HUD)
Fiscal Year 2027