FY2027 Small Area FMR · Ilfeld, NM

ZIP 87538 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87538 (Ilfeld, NM) is $1,190 a month, up 17.8% from FY2026. That is 10% above the San Miguel County, NM area-wide FMR of $1,077.

2-bedroom SAFMR$1,190per month ▲ 17.8%

Area-wide 2 BR FMR$1,077San Miguel County, NM

Rank in the area5thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,071

2 BR Small Area FMR$1,190

110% of SAFMR$1,309

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

Studio$880▲ 12.8%

1 BR$1,030▲ 12.0%

2 BR$1,190▲ 17.8%

3 BR$1,650▲ 17.9%

4 BR$1,870▲ 14.7%

FY2027 FY2026

Where 87538 sits in the San Miguel County, NM area

Of the 20 ZIP codes HUD lists for the area, 87538 has the 5th highest two-bedroom Small Area FMR. San Miguel 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 $1,077 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,190 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	$880	$792 – $968	$796	$780
1 bedroom	$1,030	$927 – $1,133	$925	$920
2 bedrooms	$1,190	$1,071 – $1,309	$1,077	$1,010
3 bedrooms	$1,650	$1,485 – $1,815	$1,491	$1,400
4 bedrooms	$1,870	$1,683 – $2,057	$1,689	$1,630

A household renting a two-bedroom home at the Small Area FMR of $1,190 needs about $47,600 a year to keep housing costs at 30% of income. The area median family income is $74,300 and the 80% low-income limit for four people is $59,450. ZIP code 87538 lies mainly in San Miguel County. See the San Miguel County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87565	San Jose	7.2 mi	$1,080
87562	Rowe	8.3 mi	$1,080
87535	Glorieta	10.2 mi	$1,720
87552	Pecos	10.6 mi	$1,520
87560	Ribera	18.0 mi	$1,080
87569	Serafina	18.3 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 87538?

HUD's FY2027 Small Area Fair Market Rents for 87538 are $880 (studio), $1,030 (1 BR), $1,190 (2 BR), $1,650 (3 BR) and $1,870 (4 BR) a month.

What is the Section 8 payment standard in 87538?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87538 that range is $1,071 to $1,309 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87538?

The FY2026 income limits of the San Miguel County, NM area apply: median family income $74,300, low-income (80%) limit $59,450 for a family of four.