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Bernalillo County/Albuquerque/87104

87104

ZIPSAFMR
Bernalillo County, NM
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$940$1,030
1 BR$1,070$1,180
2 BR$1,330$1,460
3 BR$1,840$2,020
4 BR$2,160$2,330
5 BR$2,484Not available
6 BR$2,857Not available
7 BR$3,285Not available
8 BR$3,778Not available

Purchase Price Calculator

Maximum purchase price
$155,039

Cost breakdown

+Likely effective rent$1,460
HUD FMR$1,330
Market rent$1,720
Est. payment standard (110%)Used$1,460
-Principal and interest-$784
Loan amount$124,031
Down payment$31,008
Rate6.50%
Term30 years
-Operating costs-$476
Property taxes-$155
Insurance-$175
Utilities$0
HOA$0
Management-$146
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,565(76.0% ROI)
Projected value
$166,960
Return breakdown
Property appreciation+$11,921
Loan principal paid down+$4,444
Rental cash flow+$7,200
5-year hold
+$40,298(130.0% ROI)
Projected value
$175,412
Return breakdown
Property appreciation+$20,373
Loan principal paid down+$7,924
Rental cash flow+$12,000
10-year hold
+$86,306(278.3% ROI)
Projected value
$198,463
Return breakdown
Property appreciation+$43,424
Loan principal paid down+$18,882
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.77
2 BR
0.77
3 BR
0.87
4 BR
0.89
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 87104 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87104 (Albuquerque, NM) is $1,330 a month. That is down 5.7% from $1,410 in FY 2026. Albuquerque 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 54 ZIP codes in Bernalillo County, 87104 has the 43rd-highest two-bedroom rent (county range $1,320–$2,080). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87104 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87104
BedroomsFY 2027Change90–110% range
Studio$940−3.1%$846–$1,034
1BR$1,070−6.1%$963–$1,177
2BR$1,330−5.7%$1,197–$1,463
3BR$1,840−6.1%$1,656–$2,024
4BR$2,160−6.5%$1,944–$2,376

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87104
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$940$1,070$1,330$1,840$2,160
FY 2026$970$1,140$1,410$1,960$2,310
FY 2025$890$1,060$1,300$1,820$2,160
FY 2024$810$980$1,190$1,680$2,010
FY 2023$740$910$1,100$1,560$1,870

Two-bedroom rent in nearby Bernalillo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87104
87101$1,360+2.3%
87102$1,320−0.8%
87103$1,360+2.3%
87104Current$1,330—
87105$1,320−0.8%
87106$1,320−0.8%
87107$1,320−0.8%
87108$1,320−0.8%
87109$1,510+13.5%
87110$1,410+6.0%
87111$1,760+32.3%
87112$1,340+0.8%

Questions about ZIP 87104 rents

How much will Section 8 pay for a two-bedroom in ZIP 87104?

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 $1,330 it would be $1,197 to $1,463. 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 87104 in?

ZIP 87104 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 87104 for FY 2027?

The two-bedroom FMR fell 5.7%, from $1,410 in FY 2026 to $1,330 in FY 2027. Since FY 2023 it has risen 20.9%.

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