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Bernalillo County/Albuquerque/87131

87131

ZIPFMR
Bernalillo County, NM
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$977$940
1 BR$1,112$1,130
2 BR$1,384$1,450
3 BR$1,902$1,930
4 BR$2,242$2,330
5 BR$2,578Not available
6 BR$2,965Not available
7 BR$3,410Not available
8 BR$3,921Not available

Purchase Price Calculator

Maximum purchase price
$153,553

Cost breakdown

+Likely effective rent$1,450
HUD FMR$1,384
Market rent$1,490
Est. payment standard (105%)Used$1,450
-Principal and interest-$776
Loan amount$122,842
Down payment$30,711
Rate6.50%
Term30 years
-Operating costs-$474
Property taxes-$154
Insurance-$175
Utilities$0
HOA$0
Management-$145
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,408(76.2% ROI)
Projected value
$165,360
Return breakdown
Property appreciation+$11,807
Loan principal paid down+$4,401
Rental cash flow+$7,200
5-year hold
+$40,027(130.3% ROI)
Projected value
$173,731
Return breakdown
Property appreciation+$20,178
Loan principal paid down+$7,848
Rental cash flow+$12,000
10-year hold
+$85,709(279.1% ROI)
Projected value
$196,561
Return breakdown
Property appreciation+$43,008
Loan principal paid down+$18,701
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.04
1 BR
0.98
2 BR
0.93
3 BR
0.98
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 87131 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 87131 (Albuquerque, NM) is $1,384 a month. That is down 5.5% from $1,464 in FY 2026. Albuquerque is in the Albuquerque, NM MSA. The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87131 is 30% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87131
BedroomsFY 2027Change90–110% range
Studio$977−3.2%$879–$1,075
1BR$1,112−6.2%$1,001–$1,223
2BR$1,384−5.5%$1,246–$1,522
3BR$1,902−6.6%$1,712–$2,092
4BR$2,242−6.5%$2,018–$2,466

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87131
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$977$1,112$1,384$1,902$2,242
FY 2026$1,009$1,185$1,464$2,036$2,399
FY 2025$913$1,084$1,331$1,865$2,209
FY 2024SAFMR$810$990$1,200$1,690$2,030
FY 2023SAFMR$750$920$1,120$1,590$1,910

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Questions about ZIP 87131 rents

How much will Section 8 pay for a two-bedroom in ZIP 87131?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,384, that basic range is $1,246 to $1,522 a month. 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 87131 in?

ZIP 87131 is in the Albuquerque, NM MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 87131 for FY 2027?

The two-bedroom FMR fell 5.5%, from $1,464 in FY 2026 to $1,384 in FY 2027. Since FY 2025 it has risen 4.0%.

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 Fair Market Rents. 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