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Santa Fe County/Santa Fe/87507

87507

ZIPSAFMR
Santa Fe County, NM
Zillow

ZIP Investment Score

62Below average

095130300
BRFMR
Eff. Rent
0 BR$1,160$1,280
1 BR$1,290$1,420
2 BR$1,590$1,750
3 BR$1,960$2,160
4 BR$2,090$2,300
5 BR$2,404Not available
6 BR$2,764Not available
7 BR$3,179Not available
8 BR$3,655Not available

Purchase Price Calculator

Maximum purchase price
$198,133

Cost breakdown

+Likely effective rent$1,750
HUD FMR$1,590
Market rent$2,480
Est. payment standard (110%)Used$1,750
-Principal and interest-$1,002
Loan amount$158,506
Down payment$39,627
Rate6.50%
Term30 years
-Operating costs-$548
Property taxes-$198
Insurance-$175
Utilities$0
HOA$0
Management-$175
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,113(70.9% ROI)
Projected value
$213,367
Return breakdown
Property appreciation+$15,235
Loan principal paid down+$5,679
Rental cash flow+$7,200
5-year hold
+$48,163(121.5% ROI)
Projected value
$224,169
Return breakdown
Property appreciation+$26,036
Loan principal paid down+$10,127
Rental cash flow+$12,000
10-year hold
+$103,625(261.5% ROI)
Projected value
$253,627
Return breakdown
Property appreciation+$55,494
Loan principal paid down+$24,131
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.80
2 BR
0.64
3 BR
0.72
4 BR
0.72
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 87507 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87507 (Santa Fe, NM) is $1,590 a month. That is unchanged from FY 2026. Santa Fe is in the Santa Fe, 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 $1,735. Among 21 ZIP codes in Santa Fe County, 87507 has the 13th-highest two-bedroom rent (county range $1,520–$2,020). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87507 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87507
BedroomsFY 2027Change90–110% range
Studio$1,160−2.5%$1,044–$1,276
1BR$1,290−1.5%$1,161–$1,419
2BR$1,5900.0%$1,431–$1,749
3BR$1,960−2.0%$1,764–$2,156
4BR$2,090−0.9%$1,881–$2,299

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87507
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,290$1,590$1,960$2,090
FY 2026$1,190$1,310$1,590$2,000$2,110
FY 2025$1,160$1,290$1,530$1,930$2,030
FY 2024$1,090$1,230$1,430$1,830$1,900
FY 2023$920$1,050$1,210$1,550$1,720

Two-bedroom rent in nearby Santa Fe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87507
87501$1,960+23.3%
87502$1,740+9.4%
87504$1,740+9.4%
87505$1,780+11.9%
87506$1,570−1.3%
87507Current$1,590—
87508$2,020+27.0%
87522$1,520−4.4%
87532$1,520−4.4%
87535$1,720+8.2%
87540$1,900+19.5%
87552$1,520−4.4%

Questions about ZIP 87507 rents

How much will Section 8 pay for a two-bedroom in ZIP 87507?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,735, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,562 to $1,909 a month; under the ZIP-level Small Area FMR of $1,590 it would be $1,431 to $1,749. 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 87507 in?

ZIP 87507 is in the Santa Fe, NM MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,735.

How much did fair market rent change in ZIP 87507 for FY 2027?

The two-bedroom FMR was unchanged at $1,590 in FY 2027. Since FY 2023 it has risen 31.4%.

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