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
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Mortgage rate
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ZIP 87302 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 87302 (Gallup, NM) is $1,140 a month. That is up 4.6% from $1,090 in FY 2026. Gallup is in the McKinley County, NM non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87302 is 7% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 87302
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$752
$794
+5.6%
$715–$873
1BR
$894
$911
+1.9%
$820–$1,002
2BR
$1,090
$1,140
+4.6%
$1,026–$1,254
3BR
$1,307
$1,358
+3.9%
$1,222–$1,494
4BR
$1,443
$1,498
+3.8%
$1,348–$1,648
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 87302
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$794
$911
$1,140
$1,358
$1,498
FY 2026
$752
$894
$1,090
$1,307
$1,443
FY 2025
$652
$799
$951
$1,169
$1,261
FY 2024
$663
$739
$877
$1,127
$1,168
FY 2023
$666
$671
$795
$1,063
$1,068
Questions about ZIP 87302 rents
How much will Section 8 pay for a two-bedroom in ZIP 87302?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,140, that basic range is $1,026 to $1,254 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 87302 in?
ZIP 87302 is in the McKinley County, NM non-metropolitan FMR area.
How much did fair market rent change in ZIP 87302 for FY 2027?
The two-bedroom FMR rose 4.6%, from $1,090 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 43.4%.
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