FY2027 Small Area FMR · Smith Lake, NM

ZIP 87365 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87365 (Smith Lake, NM) is $1,020 a month, down 9.7% from FY2026. That is 11% below the McKinley County, NM area-wide FMR of $1,140.

2-bedroom SAFMR$1,020per month ▼ 9.7%

Area-wide 2 BR FMR$1,140McKinley County, NM

Rank in the area22ndof 25 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$918

2 BR Small Area FMR$1,020

110% of SAFMR$1,122

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

Studio$730▼ 7.6%

1 BR$840▼ 9.7%

2 BR$1,020▼ 9.7%

3 BR$1,240▼ 9.5%

4 BR$1,350▼ 10.0%

FY2027 FY2026

Where 87365 sits in the McKinley County, NM area

Of the 25 ZIP codes HUD lists for the area, 87365 has the 22nd highest two-bedroom Small Area FMR. McKinley County, 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 $1,140 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,020 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	$730	$657 – $803	$794	$790
1 bedroom	$840	$756 – $924	$911	$930
2 bedrooms	$1,020	$918 – $1,122	$1,140	$1,130
3 bedrooms	$1,240	$1,116 – $1,364	$1,358	$1,370
4 bedrooms	$1,350	$1,215 – $1,485	$1,498	$1,500

A household renting a two-bedroom home at the Small Area FMR of $1,020 needs about $40,800 a year to keep housing costs at 30% of income. The area median family income is $56,400 and the 80% low-income limit for four people is $58,300. ZIP code 87365 lies mainly in McKinley County. See the McKinley County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87323	Thoreau	1.9 mi	$1,020
87312	Continental Divide	9.2 mi	$1,070
87045	Prewitt	10.2 mi	$1,040
87316	Fort Wingate	14.0 mi	$1,410
87347	Jamestown	15.6 mi	$1,460
87005	Bluewater	18.5 mi	$1,040

Questions

What is the Fair Market Rent for ZIP code 87365?

HUD's FY2027 Small Area Fair Market Rents for 87365 are $730 (studio), $840 (1 BR), $1,020 (2 BR), $1,240 (3 BR) and $1,350 (4 BR) a month.

What is the Section 8 payment standard in 87365?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87365 that range is $918 to $1,122 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87365?

The FY2026 income limits of the McKinley County, NM area apply: median family income $56,400, low-income (80%) limit $58,300 for a family of four.