FY2027 Small Area FMR · Las Vegas, NM

ZIP 87701 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87701 (Las Vegas, NM) is $1,070 a month, up 4.9% from FY2026. That is 1% below the San Miguel County, NM area-wide FMR of $1,077.

2-bedroom SAFMR$1,070per month ▲ 4.9%

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

Rank in the area17thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$790■ 0.0%

1 BR$920▼ 1.1%

2 BR$1,070▲ 4.9%

3 BR$1,480▲ 4.2%

4 BR$1,680▲ 2.4%

FY2027 FY2026

Where 87701 sits in the San Miguel County, NM area

Of the 20 ZIP codes HUD lists for the area, 87701 has the 17th 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 $1,070 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	$790	$711 – $869	$796	$790
1 bedroom	$920	$828 – $1,012	$925	$930
2 bedrooms	$1,070	$963 – $1,177	$1,077	$1,020
3 bedrooms	$1,480	$1,332 – $1,628	$1,491	$1,420
4 bedrooms	$1,680	$1,512 – $1,848	$1,689	$1,640

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 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 87701 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
88439	Trementina	15.5 mi	$1,080
87750	Valmora	19.6 mi	$1,010
87753	Watrous	22.9 mi	$1,010
87711	Anton Chico	23.7 mi	$1,050
87745	Sapello	24.3 mi	$1,080
87569	Serafina	24.7 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 87701?

HUD's FY2027 Small Area Fair Market Rents for 87701 are $790 (studio), $920 (1 BR), $1,070 (2 BR), $1,480 (3 BR) and $1,680 (4 BR) a month.

What is the Section 8 payment standard in 87701?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87701 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87701?

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.