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 88202 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 88202 (Roswell, NM) is $1,090 a month. That is up 1.9% from $1,070 in FY 2026. Roswell is in the Chaves 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 $1,091. Among 12 ZIP codes in Chaves County, 88202 has the 6th-highest two-bedroom rent (county range $1,010–$1,240). The median county two-bedroom FMR in New Mexico is $1,063, so ZIP 88202 is 3% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 88202
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$740
$870
+17.6%
$783–$957
1BR
$890
$890
0.0%
$801–$979
2BR
$1,070
$1,090
+1.9%
$981–$1,199
3BR
$1,420
$1,470
+3.5%
$1,323–$1,617
4BR
$1,560
$1,620
+3.8%
$1,458–$1,782
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 88202
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$870
$890
$1,090
$1,470
$1,620
FY 2026
$740
$890
$1,070
$1,420
$1,560
FY 2025
$690
$740
$950
$1,230
$1,410
FY 2024area FMR
$692
$737
$969
$1,239
$1,358
FY 2023area FMR
$649
$674
$887
$1,121
$1,221
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Chaves County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 88202?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,091, which applies unless the housing authority uses Small Area FMRs, that basic range is $982 to $1,200 a month; under the ZIP-level Small Area FMR of $1,090 it would be $981 to $1,199. 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 88202 in?
ZIP 88202 is in the Chaves County, NM non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,091.
How much did fair market rent change in ZIP 88202 for FY 2027?
The two-bedroom FMR rose 1.9%, from $1,070 in FY 2026 to $1,090 in FY 2027. Since FY 2025 it has risen 14.7%.
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