FY2027 Small Area FMR · Hanover, NM

ZIP 88041 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88041 (Hanover, NM) is $1,070 a month, up 1.9% from FY2026. That is 0% equal to the Grant County, NM area-wide FMR of $1,070.

2-bedroom SAFMR$1,070per month ▲ 1.9%

Area-wide 2 BR FMR$1,070Grant County, NM

Rank in the area4thof 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$820▲ 2.5%

1 BR$830▲ 3.8%

2 BR$1,070▲ 1.9%

3 BR$1,290▼ 1.5%

4 BR$1,680▲ 20.9%

FY2027 FY2026

Where 88041 sits in the Grant County, NM area

Of the 20 ZIP codes HUD lists for the area, 88041 has the 4th highest two-bedroom Small Area FMR. Grant 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 $1,070 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	$820	$738 – $902	$820	$800
1 bedroom	$830	$747 – $913	$825	$800
2 bedrooms	$1,070	$963 – $1,177	$1,070	$1,050
3 bedrooms	$1,290	$1,161 – $1,419	$1,286	$1,310
4 bedrooms	$1,680	$1,512 – $1,848	$1,678	$1,390

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 $68,400 and the 80% low-income limit for four people is $59,500. ZIP code 88041 lies mainly in Grant County. See the Grant County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
88034	Faywood	12.3 mi	$1,030
88023	Bayard	14.1 mi	$1,010
88026	Santa Clara	14.8 mi	$1,010
88022	Arenas Valley	15.4 mi	$1,090
88043	Hurley	16.5 mi	$1,060
88049	Mimbres	16.7 mi	$1,070

Questions

What is the Fair Market Rent for ZIP code 88041?

HUD's FY2027 Small Area Fair Market Rents for 88041 are $820 (studio), $830 (1 BR), $1,070 (2 BR), $1,290 (3 BR) and $1,680 (4 BR) a month.

What is the Section 8 payment standard in 88041?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88041 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 88041?

The FY2026 income limits of the Grant County, NM area apply: median family income $68,400, low-income (80%) limit $59,500 for a family of four.