FY2027 Small Area FMR · House, NM

ZIP 88121 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88121 (House, NM) is $1,020 a month, up 5.2% from FY2026. That is 0% equal to the Quay County, NM area-wide FMR of $1,019.

2-bedroom SAFMR$1,020per month ▲ 5.2%

Area-wide 2 BR FMR$1,019Quay County, NM

Rank in the area5thof 12 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$918

2 BR Small Area FMR$1,020

110% of SAFMR$1,122

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

Studio$770▲ 6.9%

1 BR$780▲ 5.4%

2 BR$1,020▲ 5.2%

3 BR$1,320▲ 7.3%

4 BR$1,600▲ 1.9%

FY2027 FY2026

Where 88121 sits in the Quay County, NM area

Of the 12 ZIP codes HUD lists for the area, 88121 has the 5th highest two-bedroom Small Area FMR. Quay 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 $1,019 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,020 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	$770	$693 – $847	$774	$720
1 bedroom	$780	$702 – $858	$779	$740
2 bedrooms	$1,020	$918 – $1,122	$1,019	$970
3 bedrooms	$1,320	$1,188 – $1,452	$1,323	$1,230
4 bedrooms	$1,600	$1,440 – $1,760	$1,598	$1,570

A household renting a two-bedroom home at the Small Area FMR of $1,020 needs about $40,800 a year to keep housing costs at 30% of income. The area median family income is $60,400 and the 80% low-income limit for four people is $58,300. ZIP code 88121 lies mainly in Quay County. See the Quay County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
88427	Mcalister	12.3 mi	$1,010
88124	Melrose	22.4 mi	$1,010
88134	Taiban	27.1 mi	$1,010
88401	Tucumcari	29.4 mi	$1,010
88417	Cuervo	34.0 mi	$1,010
88431	Newkirk	35.6 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 88121?

HUD's FY2027 Small Area Fair Market Rents for 88121 are $770 (studio), $780 (1 BR), $1,020 (2 BR), $1,320 (3 BR) and $1,600 (4 BR) a month.

What is the Section 8 payment standard in 88121?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88121 that range is $918 to $1,122 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 88121?

The FY2026 income limits of the Quay County, NM area apply: median family income $60,400, low-income (80%) limit $58,300 for a family of four.