FMR is below market; voucher rent may lag private rents.
0.74
1 BR
1 BR
0.80ratio
FMR$900
Market$1,120
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.80
2 BR
2 BR
0.98ratio
FMR$1,160
Market$1,180
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR
1.25ratio
FMR$1,530
Market$1,220
vs market+$310
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR
1.51ratio
FMR$1,900
Market$1,260
vs market+$640
FMR is above market; underwrite to market rent.
1.51
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 88103 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 88103 (Cannon Afb, NM) is $1,160 a month. That is up 1.8% from $1,140 in FY 2026. Cannon Afb is in the Curry 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 $1,151. Among 11 ZIP codes in Curry County, 88103 is tied for the 2nd-highest two-bedroom rent (county range $1,010–$1,190). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 88103 is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 88103
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$790
$810
+2.5%
$729–$891
1BR
$930
$900
−3.2%
$810–$990
2BR
$1,140
$1,160
+1.8%
$1,044–$1,276
3BR
$1,480
$1,530
+3.4%
$1,377–$1,683
4BR
$1,910
$1,900
−0.5%
$1,710–$2,090
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 88103
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$810
$900
$1,160
$1,530
$1,900
FY 2026
$790
$930
$1,140
$1,480
$1,910
FY 2025
$670
$800
$970
$1,240
$1,630
FY 2024area FMR
$674
$800
$995
$1,266
$1,689
FY 2023area FMR
$602
$707
$900
$1,154
$1,533
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
How much will Section 8 pay for a two-bedroom in ZIP 88103?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,151, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,036 to $1,266 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 88103 in?
ZIP 88103 is in the Curry County, NM non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,151.
How much did fair market rent change in ZIP 88103 for FY 2027?
The two-bedroom FMR rose 1.8%, from $1,140 in FY 2026 to $1,160 in FY 2027. Since FY 2025 it has risen 19.6%.
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