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Bernalillo County/Rio Rancho/87124

87124

ZIPSAFMR
Bernalillo County, NM
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,190$1,310
1 BR$1,350$1,490
2 BR$1,680$1,690
3 BR$2,310$1,930
4 BR$2,720$2,380
5 BR$3,128Not available
6 BR$3,597Not available
7 BR$4,137Not available
8 BR$4,757Not available

Purchase Price Calculator

Maximum purchase price
$189,217

Cost breakdown

+Likely effective rent$1,690
HUD FMR$1,680
Market rent$1,690
Est. payment standard (100%)Used$1,690
-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

Studio
0.73
1 BR
0.85
2 BR
0.99
3 BR
1.20
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 87124 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87124 (Rio Rancho, NM) is $1,680 a month. That is down 4.0% from $1,750 in FY 2026. Rio Rancho 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, 87124 has the 7th-highest two-bedroom rent (county range $1,320–$2,080). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87124 is 58% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87124
BedroomsFY 2027Change90–110% range
Studio$1,190−1.7%$1,071–$1,309
1BR$1,350−4.9%$1,215–$1,485
2BR$1,680−4.0%$1,512–$1,848
3BR$2,310−4.9%$2,079–$2,541
4BR$2,720−5.2%$2,448–$2,992

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87124
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,190$1,350$1,680$2,310$2,720
FY 2026$1,210$1,420$1,750$2,430$2,870
FY 2025$1,080$1,280$1,570$2,200$2,610
FY 2024$980$1,180$1,440$2,030$2,430
FY 2023$820$1,010$1,230$1,750$2,100

Two-bedroom rent in nearby Bernalillo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87124
87113$1,910+13.7%
87114$1,560−7.1%
87115$1,360−19.0%
87116$2,080+23.8%
87117$1,410−16.1%
87119$1,360−19.0%
87120$1,700+1.2%
87121$1,630−3.0%
87122$2,080+23.8%
87123$1,320−21.4%
87124Current$1,680—
87125$1,360−19.0%

Questions about ZIP 87124 rents

How much will Section 8 pay for a two-bedroom in ZIP 87124?

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 $1,680 it would be $1,512 to $1,848. 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 87124 in?

ZIP 87124 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 87124 for FY 2027?

The two-bedroom FMR fell 4.0%, from $1,750 in FY 2026 to $1,680 in FY 2027. Since FY 2023 it has risen 36.6%.

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