Santa Fe County, NM: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,7352-bedroom FMR, FY2027

$1,4131-bedroom FMR, FY2027

$87,50080% income limit, family of 4 (FY2026)

$118,600Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Santa Fe County is $1,735 a month, up 3.0% from $1,685 in FY2026. Santa Fe County belongs to the Santa Fe, NM MSA FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Santa Fe County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,260	$1,259	+0.1%	$1,134 – $1,386
1 bedroom	$1,413	$1,390	+1.7%	$1,272 – $1,554
2 bedrooms	$1,735	$1,685	+3.0%	$1,562 – $1,908
3 bedrooms	$2,134	$2,122	+0.6%	$1,921 – $2,347
4 bedrooms	$2,280	$2,231	+2.2%	$2,052 – $2,508

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Santa Fe County that is typically $1,562 to $1,908 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$50,506median income of renter households

$1,389Median gross rent, all units

33%Rent-to-income ratio (median rent ÷ median renter income)

51%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $50,506 can afford about $1,263 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,735 is $472 (37.4%) more than that. To rent a two-bedroom at the FMR, a household needs $69,400 a year under the 30% rule, or $62,460 under the common landlord rule that income must be three times the rent.

Santa Fe County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,389 ±$58
Median income of renter households	$50,506 ±$3,050
Renters paying 30% or more of income (cost-burdened)	51.0% ±2.6
Renters paying 50% or more (severely cost-burdened)	28.6% ±2.2
Renter households (where the share can be computed)	18,189

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$1,048	$1,389	+32.5%
Median renter household income	$41,192	$50,506	+22.6%
Renters paying 30%+ of income	47.3%	51.0%	+3.7 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,520 to $2,020 depending on the ZIP code.

All 22 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
87010	$1,230	$1,380	$1,690	$2,080	$2,220
87015	$1,140	$1,260	$1,520	$1,910	$2,160
87035	$1,140	$1,260	$1,520	$1,910	$2,160
87047	$1,140	$1,260	$1,520	$2,020	$2,370
87056	$1,260	$1,420	$1,740	$2,140	$2,290
87501	$1,420	$1,600	$1,960	$2,410	$2,580
87502	$1,260	$1,420	$1,740	$2,140	$2,290
87504	$1,260	$1,420	$1,740	$2,140	$2,290
87505	$1,290	$1,450	$1,780	$2,190	$2,340
87506	$1,140	$1,260	$1,570	$1,910	$2,560
87507	$1,160	$1,290	$1,590	$1,960	$2,090
87508	$1,470	$1,640	$2,020	$2,480	$2,650
87522	$1,140	$1,260	$1,520	$1,910	$2,010
87532	$1,140	$1,260	$1,520	$1,910	$2,010
87535	$1,260	$1,420	$1,720	$2,180	$2,360
87540	$1,380	$1,540	$1,900	$2,330	$2,490
87552	$1,140	$1,260	$1,520	$1,910	$2,010
87567	$1,140	$1,260	$1,520	$1,910	$2,010
87573	$1,160	$1,280	$1,550	$1,950	$2,120
87574	$1,260	$1,420	$1,740	$2,140	$2,290
87592	$1,260	$1,420	$1,740	$2,140	$2,290
87594	$1,260	$1,420	$1,740	$2,140	$2,290

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Santa Fe County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $118,600 (FY2025: $99,500, +19.2%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$23,000 +10.0%	$26,250 +9.8%	$29,550 +9.9%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$38,300 +9.9%	$43,750 +9.9%	$49,250 +9.9%	$54,700 +9.9%	$59,100 +10.0%	$63,500 +10.0%	$67,850 +10.0%	$72,250 +10.0%
Low income (80%)	$61,250 +9.9%	$70,000 +9.9%	$78,750 +9.9%	$87,500 +9.9%	$94,500 +9.9%	$101,500 +9.9%	$108,500 +9.9%	$115,500 +9.9%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.