Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 88054 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 88054 (Radium Springs, NM) is $1,073 a month. That is up 3.0% from $1,042 in FY 2026. Radium Springs is in the Las Cruces, NM MSA.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 88054
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$744
$790
+6.2%
$711–$869
1BR
$951
$975
+2.5%
$878–$1,073
2BR
$1,042
$1,073
+3.0%
$966–$1,180
3BR
$1,449
$1,461
+0.8%
$1,315–$1,607
4BR
$1,580
$1,692
+7.1%
$1,523–$1,861
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 88054
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$790
$975
$1,073
$1,461
$1,692
FY 2026
$744
$951
$1,042
$1,449
$1,580
FY 2025
$741
$940
$1,041
$1,447
$1,605
FY 2024
$739
$881
$989
$1,383
$1,562
FY 2023
$715
$772
$893
$1,269
$1,459
Questions about ZIP 88054 rents
How much will Section 8 pay for a two-bedroom in ZIP 88054?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,073, that basic range is $966 to $1,180 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 88054 in?
ZIP 88054 is in the Las Cruces, NM MSA. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 88054 for FY 2027?
The two-bedroom FMR rose 3.0%, from $1,042 in FY 2026 to $1,073 in FY 2027. Since FY 2023 it has risen 20.2%.
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