FY2027 Small Area FMR · Rio Rancho, NM

ZIP 87124 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87124 (Rio Rancho, NM) is $1,680 a month, down 4.0% from FY2026. That is 21% above the Albuquerque, NM area-wide FMR of $1,384.

2-bedroom SAFMR$1,680per month ▼ 4.0%

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

Rank in the area11thof 87 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,512

2 BR Small Area FMR$1,680

110% of SAFMR$1,848

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

Studio$1,190▼ 1.7%

1 BR$1,350▼ 4.9%

2 BR$1,680▼ 4.0%

3 BR$2,310▼ 4.9%

4 BR$2,720▼ 5.2%

FY2027 FY2026

Where 87124 sits in the Albuquerque, NM area

Of the 87 ZIP codes HUD lists for the area, 87124 has the 11th 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 $1,680 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	$1,190	$1,071 – $1,309	$977	$1,210
1 bedroom	$1,350	$1,215 – $1,485	$1,112	$1,420
2 bedrooms	$1,680	$1,512 – $1,848	$1,384	$1,750
3 bedrooms	$2,310	$2,079 – $2,541	$1,902	$2,430
4 bedrooms	$2,720	$2,448 – $2,992	$2,242	$2,870

A household renting a two-bedroom home at the Small Area FMR of $1,680 needs about $67,200 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 87124 lies mainly in Sandoval County and 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
87144	Rio Rancho	5.9 mi	$1,990
87114	Albuquerque	7.4 mi	$1,560
87120	Albuquerque	8.9 mi	$1,700
87048	Corrales	9.1 mi	$1,520
87101	Albuquerque	9.2 mi	$1,360
87107	Albuquerque	12.0 mi	$1,320

Questions

What is the Fair Market Rent for ZIP code 87124?

HUD's FY2027 Small Area Fair Market Rents for 87124 are $1,190 (studio), $1,350 (1 BR), $1,680 (2 BR), $2,310 (3 BR) and $2,720 (4 BR) a month.

What is the Section 8 payment standard in 87124?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87124 that range is $1,512 to $1,848 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87124?

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.