FY2027 Small Area FMR · Hernandez, NM

ZIP 87537 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87537 (Hernandez, NM) is $1,010 a month, up 4.1% from FY2026. That is 0% equal to the Rio Arriba County, NM area-wide FMR of $1,014.

2-bedroom SAFMR$1,010per month ▲ 4.1%

Area-wide 2 BR FMR$1,014Rio Arriba County, NM

Rank in the area18thof 36 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$820▲ 10.8%

1 BR$830▲ 12.2%

2 BR$1,010▲ 4.1%

3 BR$1,400▲ 16.7%

4 BR$1,610▲ 11.8%

FY2027 FY2026

Where 87537 sits in the Rio Arriba County, NM area

Of the 36 ZIP codes HUD lists for the area, 87537 has the 18th highest two-bedroom Small Area FMR. Rio Arriba 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,010 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	$820	$738 – $902	$822	$740
1 bedroom	$830	$747 – $913	$833	$740
2 bedrooms	$1,010	$909 – $1,111	$1,014	$970
3 bedrooms	$1,400	$1,260 – $1,540	$1,387	$1,200
4 bedrooms	$1,610	$1,449 – $1,771	$1,597	$1,440

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 a year to keep housing costs at 30% of income. The area median family income is $73,700 and the 80% low-income limit for four people is $58,950. ZIP code 87537 lies mainly in Rio Arriba County. See the Rio Arriba County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87566	Ohkay Owingeh	6.9 mi	$1,010
87532	Espanola	6.9 mi	$1,520
87548	Medanales	8.8 mi	$1,010
87567	Santa Cruz	10.2 mi	$1,520
87582	Velarde	12.0 mi	$1,060
87511	Alcalde	14.9 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 87537?

HUD's FY2027 Small Area Fair Market Rents for 87537 are $820 (studio), $830 (1 BR), $1,010 (2 BR), $1,400 (3 BR) and $1,610 (4 BR) a month.

What is the Section 8 payment standard in 87537?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87537 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87537?

The FY2026 income limits of the Rio Arriba County, NM area apply: median family income $73,700, low-income (80%) limit $58,950 for a family of four.