FY2027 Small Area FMR · Monticello, NM

ZIP 87939 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 87939 (Monticello, NM) is $1,030 a month, up 3.0% from FY2026. That is 2% above the Sierra County, NM area-wide FMR of $1,014.

2-bedroom SAFMR$1,030per month ▲ 3.0%

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

Rank in the area3rdof 11 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$927

2 BR Small Area FMR$1,030

110% of SAFMR$1,133

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

Studio$730▲ 5.8%

1 BR$800▲ 5.3%

2 BR$1,030▲ 3.0%

3 BR$1,430▲ 2.9%

4 BR$1,630▲ 1.2%

FY2027 FY2026

Where 87939 sits in the Sierra County, NM area

Of the 11 ZIP codes HUD lists for the area, 87939 has the 3rd highest two-bedroom Small Area FMR. Sierra 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 $1,030 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	$706	$690
1 bedroom	$800	$720 – $880	$780	$760
2 bedrooms	$1,030	$927 – $1,133	$1,014	$1,000
3 bedrooms	$1,430	$1,287 – $1,573	$1,404	$1,390
4 bedrooms	$1,630	$1,467 – $1,793	$1,590	$1,610

A household renting a two-bedroom home at the Small Area FMR of $1,030 needs about $41,200 a year to keep housing costs at 30% of income. The area median family income is $71,300 and the 80% low-income limit for four people is $58,300. ZIP code 87939 lies mainly in Sierra County. See the Sierra County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
87943	Winston	17.1 mi	$1,010
87935	Elephant Butte	18.5 mi	$1,400
87942	Williamsburg	25.6 mi	$1,010
87901	Truth Or Consequences	26.3 mi	$1,010
87931	Caballo	31.9 mi	$1,010
87825	Magdalena	33.5 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 87939?

HUD's FY2027 Small Area Fair Market Rents for 87939 are $730 (studio), $800 (1 BR), $1,030 (2 BR), $1,430 (3 BR) and $1,630 (4 BR) a month.

What is the Section 8 payment standard in 87939?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 87939 that range is $927 to $1,133 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 87939?

The FY2026 income limits of the Sierra County, NM area apply: median family income $71,300, low-income (80%) limit $58,300 for a family of four.