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Sandoval County/Cochiti Lake/87083

87083

ZIPSAFMR
Sandoval County, NM
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,260$1,260
1 BR$1,430$1,430
2 BR$1,780$1,780
3 BR$2,450$2,450
4 BR$2,880$2,880
5 BR$3,312Not available
6 BR$3,809Not available
7 BR$4,380Not available
8 BR$5,037Not available

Purchase Price Calculator

Maximum purchase price
$202,591

Cost breakdown

+Likely effective rent$1,780
HUD FMRUsed$1,780
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,024
Loan amount$162,073
Down payment$40,518
Rate6.50%
Term30 years
-Operating costs-$556
Property taxes-$203
Insurance-$175
Utilities$0
HOA$0
Management-$178
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,584(70.5% ROI)
Projected value
$218,168
Return breakdown
Property appreciation+$15,577
Loan principal paid down+$5,807
Rental cash flow+$7,200
5-year hold
+$48,977(120.9% ROI)
Projected value
$229,213
Return breakdown
Property appreciation+$26,622
Loan principal paid down+$10,355
Rental cash flow+$12,000
10-year hold
+$105,416(260.2% ROI)
Projected value
$259,333
Return breakdown
Property appreciation+$56,743
Loan principal paid down+$24,674
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 87083 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87083 (Cochiti Lake, NM) is $1,780 a month. That is down 6.8% from $1,910 in FY 2026. Cochiti Lake is in the Albuquerque, 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 $1,384. Among 23 ZIP codes in Sandoval County, 87083 has the 5th-highest two-bedroom rent (county range $1,320–$2,080). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87083 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87083
BedroomsFY 2027Change90–110% range
Studio$1,260−4.5%$1,134–$1,386
1BR$1,430−7.7%$1,287–$1,573
2BR$1,780−6.8%$1,602–$1,958
3BR$2,450−7.9%$2,205–$2,695
4BR$2,880−8.0%$2,592–$3,168

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87083
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,260$1,430$1,780$2,450$2,880
FY 2026$1,320$1,550$1,910$2,660$3,130
FY 2025$1,220$1,450$1,780$2,490$2,950
FY 2024$1,140$1,380$1,680$2,370$2,840
FY 2023$1,060$1,300$1,580$2,250$2,690

Two-bedroom rent in nearby Sandoval County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87083
87041$1,320−25.8%
87043$2,080+16.9%
87044$1,440−19.1%
87046$1,320−25.8%
87047$1,520−14.6%
87048$1,520−14.6%
87052$1,320−25.8%
87053$1,320−25.8%
87072$1,370−23.0%
87083Current$1,780—
87122$2,080+16.9%
87124$1,680−5.6%

Questions about ZIP 87083 rents

How much will Section 8 pay for a two-bedroom in ZIP 87083?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,384, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,246 to $1,522 a month; under the ZIP-level Small Area FMR of $1,780 it would be $1,602 to $1,958. 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 87083 in?

ZIP 87083 is in the Albuquerque, NM MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,384.

How much did fair market rent change in ZIP 87083 for FY 2027?

The two-bedroom FMR fell 6.8%, from $1,910 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 12.7%.

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 rentCochiti Lake, NM fair market rentNM statewide rentsWhat is SAFMR?Data sources