FY2027 Small Area FMR · Albuquerque, NM

ZIP 87120 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87120 (Albuquerque, NM) is $1,700 a month, up 2.4% from FY2026. That is 23% above the Albuquerque, NM area-wide FMR of $1,384.

2-bedroom SAFMR$1,700per month ▲ 2.4%

Area-wide 2 BR FMR$1,384Albuquerque, NM

Rank in the area10thof 87 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,530

2 BR Small Area FMR$1,700

110% of SAFMR$1,870

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,200▲ 5.3%

1 BR$1,370▲ 2.2%

2 BR$1,700▲ 2.4%

3 BR$2,340▲ 1.3%

4 BR$2,750▲ 1.1%

FY2027 FY2026

Where 87120 sits in the Albuquerque, NM area

Of the 87 ZIP codes HUD lists for the area, 87120 has the 10th highest two-bedroom Small Area FMR. Albuquerque, NM is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,384 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,700 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,200	$1,080 – $1,320	$977	$1,140
1 bedroom	$1,370	$1,233 – $1,507	$1,112	$1,340
2 bedrooms	$1,700	$1,530 – $1,870	$1,384	$1,660
3 bedrooms	$2,340	$2,106 – $2,574	$1,902	$2,310
4 bedrooms	$2,750	$2,475 – $3,025	$2,242	$2,720

A household renting a two-bedroom home at the Small Area FMR of $1,700 needs about $68,000 a year to keep housing costs at 30% of income. The area median family income is $100,400 and the 80% low-income limit for four people is $80,300. ZIP code 87120 lies mainly in Bernalillo County. See the Albuquerque, NM metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87104	Albuquerque	5.5 mi	$1,330
87114	Albuquerque	5.8 mi	$1,560
87107	Albuquerque	6.7 mi	$1,320
87121	Albuquerque	7.2 mi	$1,630
87102	Albuquerque	7.6 mi	$1,320
87101	Albuquerque	7.7 mi	$1,360

Questions

What is the Fair Market Rent for ZIP code 87120?

HUD's FY2027 Small Area Fair Market Rents for 87120 are $1,200 (studio), $1,370 (1 BR), $1,700 (2 BR), $2,340 (3 BR) and $2,750 (4 BR) a month.

What is the Section 8 payment standard in 87120?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87120 that range is $1,530 to $1,870 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87120?

The FY2026 income limits of the Albuquerque, NM area apply: median family income $100,400, low-income (80%) limit $80,300 for a family of four.