FY2027 Small Area FMR · Hagerman, NM

ZIP 88232 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88232 (Hagerman, NM) is $1,010 a month, up 4.1% from FY2026. That is 7% below the Chaves County, NM area-wide FMR of $1,091.

2-bedroom SAFMR$1,010per month ▲ 4.1%

Area-wide 2 BR FMR$1,091Chaves County, NM

Rank in the area11thof 12 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$810▲ 20.9%

1 BR$830▲ 2.5%

2 BR$1,010▲ 4.1%

3 BR$1,380▲ 7.0%

4 BR$1,520▲ 7.0%

FY2027 FY2026

Where 88232 sits in the Chaves County, NM area

Of the 12 ZIP codes HUD lists for the area, 88232 has the 11th highest two-bedroom Small Area FMR. Chaves 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 $1,091 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	$810	$729 – $891	$868	$670
1 bedroom	$830	$747 – $913	$892	$810
2 bedrooms	$1,010	$909 – $1,111	$1,091	$970
3 bedrooms	$1,380	$1,242 – $1,518	$1,476	$1,290
4 bedrooms	$1,520	$1,368 – $1,672	$1,624	$1,420

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 $65,600 and the 80% low-income limit for four people is $58,300. ZIP code 88232 lies mainly in Chaves County. See the Chaves County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
88230	Dexter	11.5 mi	$1,070
88253	Lake Arthur	12.6 mi	$1,240
88210	Artesia	25.4 mi	$1,170
88203	Roswell	27.9 mi	$1,020
88254	Lakewood	31.4 mi	$1,250
88255	Loco Hills	33.0 mi	$1,170

Questions

What is the Fair Market Rent for ZIP code 88232?

HUD's FY2027 Small Area Fair Market Rents for 88232 are $810 (studio), $830 (1 BR), $1,010 (2 BR), $1,380 (3 BR) and $1,520 (4 BR) a month.

What is the Section 8 payment standard in 88232?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88232 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 88232?

The FY2026 income limits of the Chaves County, NM area apply: median family income $65,600, low-income (80%) limit $58,300 for a family of four.