FY2027 Small Area FMR · Lamy, NM

ZIP 87540 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87540 (Lamy, NM) is $1,900 a month, down 0.5% from FY2026. That is 10% above the Santa Fe, NM area-wide FMR of $1,735.

2-bedroom SAFMR$1,900per month ▼ 0.5%

Area-wide 2 BR FMR$1,735Santa Fe, NM

Rank in the area3rdof 22 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,710

2 BR Small Area FMR$1,900

110% of SAFMR$2,090

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

Studio$1,380▼ 2.8%

1 BR$1,540▼ 1.9%

2 BR$1,900▼ 0.5%

3 BR$2,330▼ 2.9%

4 BR$2,490▼ 1.2%

FY2027 FY2026

Where 87540 sits in the Santa Fe, NM area

Of the 22 ZIP codes HUD lists for the area, 87540 has the 3rd highest two-bedroom Small Area FMR. Santa Fe, 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 $1,735 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,900 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	$1,380	$1,242 – $1,518	$1,260	$1,420
1 bedroom	$1,540	$1,386 – $1,694	$1,413	$1,570
2 bedrooms	$1,900	$1,710 – $2,090	$1,735	$1,910
3 bedrooms	$2,330	$2,097 – $2,563	$2,134	$2,400
4 bedrooms	$2,490	$2,241 – $2,739	$2,280	$2,520

A household renting a two-bedroom home at the Small Area FMR of $1,900 needs about $76,000 a year to keep housing costs at 30% of income. The area median family income is $118,600 and the 80% low-income limit for four people is $87,500. ZIP code 87540 lies mainly in Santa Fe County. See the Santa Fe, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87508	Santa Fe	6.3 mi	$2,020
87535	Glorieta	10.5 mi	$1,720
87505	Santa Fe	11.9 mi	$1,780
87562	Rowe	12.8 mi	$1,080
87010	Cerrillos	12.8 mi	$1,690
87507	Santa Fe	15.1 mi	$1,590

Questions

What is the Fair Market Rent for ZIP code 87540?

HUD's FY2027 Small Area Fair Market Rents for 87540 are $1,380 (studio), $1,540 (1 BR), $1,900 (2 BR), $2,330 (3 BR) and $2,490 (4 BR) a month.

What is the Section 8 payment standard in 87540?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87540 that range is $1,710 to $2,090 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87540?

The FY2026 income limits of the Santa Fe, NM area apply: median family income $118,600, low-income (80%) limit $87,500 for a family of four.