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Santa Fe County/Cerrillos/87010

87010

ZIPSAFMR
Santa Fe County, NM
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$1,230$1,230
1 BR$1,380$1,380
2 BR$1,690$1,690
3 BR$2,080$2,080
4 BR$2,220$2,220
5 BR$2,553Not available
6 BR$2,936Not available
7 BR$3,376Not available
8 BR$3,883Not available

Purchase Price Calculator

Maximum purchase price
$189,217

Cost breakdown

+Likely effective rent$1,690
HUD FMRUsed$1,690
Market rentN/A
Est. payment standardN/A
-Principal and interest-$957
Loan amount$151,373
Down payment$37,843
Rate6.50%
Term30 years
-Operating costs-$533
Property taxes-$189
Insurance-$175
Utilities$0
HOA$0
Management-$169
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,172(71.8% ROI)
Projected value
$203,766
Return breakdown
Property appreciation+$14,549
Loan principal paid down+$5,423
Rental cash flow+$7,200
5-year hold
+$46,536(123.0% ROI)
Projected value
$214,081
Return breakdown
Property appreciation+$24,865
Loan principal paid down+$9,671
Rental cash flow+$12,000
10-year hold
+$100,042(264.4% ROI)
Projected value
$242,214
Return breakdown
Property appreciation+$52,997
Loan principal paid down+$23,045
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 87010 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87010 (Cerrillos, NM) is $1,690 a month. That is up 1.8% from $1,660 in FY 2026. Cerrillos is in the Santa Fe, NM MSA. 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 metro-wide two-bedroom FMR of $1,735. Among 21 ZIP codes in Santa Fe County, 87010 has the 12th-highest two-bedroom rent (county range $1,520–$2,020). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87010 is 59% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87010
BedroomsFY 2027Change90–110% range
Studio$1,230−0.8%$1,107–$1,353
1BR$1,380+0.7%$1,242–$1,518
2BR$1,690+1.8%$1,521–$1,859
3BR$2,080−0.5%$1,872–$2,288
4BR$2,220+0.9%$1,998–$2,442

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87010
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,230$1,380$1,690$2,080$2,220
FY 2026$1,240$1,370$1,660$2,090$2,200
FY 2025$1,230$1,360$1,620$2,050$2,150
FY 2024$1,190$1,340$1,560$1,990$2,080
FY 2023$970$1,110$1,270$1,620$1,800

Two-bedroom rent in nearby Santa Fe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87010
87010Current$1,690—
87015$1,520−10.1%
87035$1,520−10.1%
87047$1,520−10.1%
87056$1,740+3.0%
87501$1,960+16.0%
87502$1,740+3.0%
87504$1,740+3.0%
87505$1,780+5.3%
87506$1,570−7.1%
87507$1,590−5.9%
87508$2,020+19.5%

Questions about ZIP 87010 rents

How much will Section 8 pay for a two-bedroom in ZIP 87010?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,735, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,562 to $1,909 a month; under the ZIP-level Small Area FMR of $1,690 it would be $1,521 to $1,859. 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 ZIP 87010 in?

ZIP 87010 is in the Santa Fe, NM MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,735.

How much did fair market rent change in ZIP 87010 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,660 in FY 2026 to $1,690 in FY 2027. Since FY 2023 it has risen 33.1%.

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

County fair market rentCerrillos, NM fair market rentNM statewide rentsWhat is SAFMR?Data sources