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San Miguel County/San Jose/87565

87565

ZIPSAFMR
San Miguel County, NM
Zillow

ZIP Investment Score

44Below average

095130300
BRFMR
Eff. Rent
0 BR$800$800
1 BR$930$930
2 BR$1,080$1,080
3 BR$1,500$1,500
4 BR$1,690$1,690
5 BR$1,943Not available
6 BR$2,235Not available
7 BR$2,570Not available
8 BR$2,956Not available

Purchase Price Calculator

Maximum purchase price
$98,571

Cost breakdown

+Likely effective rent$1,080
HUD FMRUsed$1,080
Market rentN/A
Est. payment standardN/A
-Principal and interest-$498
Loan amount$78,857
Down payment$19,714
Rate6.50%
Term30 years
-Operating costs-$382
Property taxes-$99
Insurance-$175
Utilities$0
HOA$0
Management-$108
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,604(89.3% ROI)
Projected value
$106,150
Return breakdown
Property appreciation+$7,579
Loan principal paid down+$2,825
Rental cash flow+$7,200
5-year hold
+$29,991(152.1% ROI)
Projected value
$111,524
Return breakdown
Property appreciation+$12,953
Loan principal paid down+$5,038
Rental cash flow+$12,000
10-year hold
+$63,613(322.7% ROI)
Projected value
$126,179
Return breakdown
Property appreciation+$27,608
Loan principal paid down+$12,005
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

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
--
Mortgage rate
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ZIP 87565 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 87565 (San Jose, NM) is $1,080 a month. That is up 9.1% from $990 in FY 2026. San Jose is in the San Miguel County, NM non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,077. Among 18 ZIP codes in San Miguel County, 87565 is tied for the 6th-highest two-bedroom rent (county range $1,050–$1,720). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 87565 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 87565
BedroomsFY 2027Change90–110% range
Studio$800+3.9%$720–$880
1BR$930+2.2%$837–$1,023
2BR$1,080+9.1%$972–$1,188
3BR$1,500+8.7%$1,350–$1,650
4BR$1,690+5.6%$1,521–$1,859

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 87565
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$800$930$1,080$1,500$1,690
FY 2026$770$910$990$1,380$1,600
FY 2025$760$850$940$1,320$1,560
FY 2024area FMR$703$781$877$1,186$1,384
FY 2023area FMR$676$704$795$1,055$1,254

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

Two-bedroom rent in nearby San Miguel County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 87565
87535$1,720+59.3%
87538$1,190+10.2%
87552$1,520+40.7%
87560$1,0800.0%
87562$1,0800.0%
87565Current$1,080—
87569$1,0800.0%
87573$1,550+43.5%
87583$1,0800.0%
87701$1,070−0.9%
87711$1,050−2.8%
87731$1,120+3.7%

Questions about ZIP 87565 rents

How much will Section 8 pay for a two-bedroom in ZIP 87565?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,077, which applies unless the housing authority uses Small Area FMRs, that basic range is $969 to $1,185 a month; under the ZIP-level Small Area FMR of $1,080 it would be $972 to $1,188. 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 87565 in?

ZIP 87565 is in the San Miguel County, NM non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,077.

How much did fair market rent change in ZIP 87565 for FY 2027?

The two-bedroom FMR rose 9.1%, from $990 in FY 2026 to $1,080 in FY 2027. Since FY 2025 it has risen 14.9%.

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