FY2027 Small Area FMR · Hillsboro, NM

ZIP 88042 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88042 (Hillsboro, NM) is $1,010 a month, up 1.0% from FY2026. That is 0% equal to the Sierra County, NM area-wide FMR of $1,014.

2-bedroom SAFMR$1,010per month ▲ 1.0%

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

Rank in the area4thof 11 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$710▲ 2.9%

1 BR$780▲ 2.6%

2 BR$1,010▲ 1.0%

3 BR$1,410▲ 1.4%

4 BR$1,600▼ 0.6%

FY2027 FY2026

Where 88042 sits in the Sierra County, NM area

Of the 11 ZIP codes HUD lists for the area, 88042 has the 4th 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 $1,010 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	$710	$639 – $781	$706	$690
1 bedroom	$780	$702 – $858	$780	$760
2 bedrooms	$1,010	$909 – $1,111	$1,014	$1,000
3 bedrooms	$1,410	$1,269 – $1,551	$1,404	$1,390
4 bedrooms	$1,600	$1,440 – $1,760	$1,590	$1,610

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 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 88042 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
87930	Arrey	8.3 mi	$1,010
87931	Caballo	13.1 mi	$1,010
87933	Derry	17.5 mi	$1,010
87936	Garfield	18.7 mi	$1,070
88041	Hanover	19.4 mi	$1,070
87942	Williamsburg	21.7 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 88042?

HUD's FY2027 Small Area Fair Market Rents for 88042 are $710 (studio), $780 (1 BR), $1,010 (2 BR), $1,410 (3 BR) and $1,600 (4 BR) a month.

What is the Section 8 payment standard in 88042?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88042 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 88042?

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.