FY2027 Small Area FMR · Hope, NM
ZIP 88250 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88250 (Hope, NM) is $1,180 a month, up 5.4% from FY2026. That is 8% above the Chaves County, NM area-wide FMR of $1,091.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 88250 sits in the Chaves County, NM area
Of the 12 ZIP codes HUD lists for the area, 88250 has the 4th 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 $1,180 for this ZIP code instead.
ZIP code 88250 crosses more than one HUD area. HUD also lists it under Eddy County, NM (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $980 | $882 – $1,078 | $868 | $950 |
| 1 bedroom | $1,070 | $963 – $1,177 | $892 | $1,000 |
| 2 bedrooms | $1,180 | $1,062 – $1,298 | $1,091 | $1,120 |
| 3 bedrooms | $1,630 | $1,467 – $1,793 | $1,476 | $1,520 |
| 4 bedrooms | $1,740 | $1,566 – $1,914 | $1,624 | $1,540 |
A household renting a two-bedroom home at the Small Area FMR of $1,180 needs about $47,200 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 88250 lies mainly in Chaves County and Eddy County. See the Chaves County, NM county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 88250?
HUD's FY2027 Small Area Fair Market Rents for 88250 are $980 (studio), $1,070 (1 BR), $1,180 (2 BR), $1,630 (3 BR) and $1,740 (4 BR) a month.
What is the Section 8 payment standard in 88250?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88250 that range is $1,062 to $1,298 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 88250?
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.