FY2027 Small Area FMR · Conchas Dam, NM

ZIP 88416 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88416 (Conchas Dam, NM) is $1,080 a month, up 6.9% from FY2026. That is 0% equal to the San Miguel County, NM area-wide FMR of $1,077.

2-bedroom SAFMR$1,080per month ▲ 6.9%

Area-wide 2 BR FMR$1,077San Miguel County, NM

Rank in the area7thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$972

2 BR Small Area FMR$1,080

110% of SAFMR$1,188

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

Studio$800▲ 2.6%

1 BR$930▲ 1.1%

2 BR$1,080▲ 6.9%

3 BR$1,500▲ 7.1%

4 BR$1,690▲ 3.7%

FY2027 FY2026

Where 88416 sits in the San Miguel County, NM area

Of the 20 ZIP codes HUD lists for the area, 88416 has the 7th highest two-bedroom Small Area FMR. San Miguel 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 $1,077 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,080 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	$800	$720 – $880	$796	$780
1 bedroom	$930	$837 – $1,023	$925	$920
2 bedrooms	$1,080	$972 – $1,188	$1,077	$1,010
3 bedrooms	$1,500	$1,350 – $1,650	$1,491	$1,400
4 bedrooms	$1,690	$1,521 – $1,859	$1,689	$1,630

A household renting a two-bedroom home at the Small Area FMR of $1,080 needs about $43,200 a year to keep housing costs at 30% of income. The area median family income is $74,300 and the 80% low-income limit for four people is $59,450. ZIP code 88416 lies mainly in San Miguel County. See the San Miguel County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
88431	Newkirk	9.0 mi	$1,080
88421	Garita	16.2 mi	$1,080
88417	Cuervo	17.7 mi	$1,010
88401	Tucumcari	23.9 mi	$1,010
88439	Trementina	29.7 mi	$1,080
87746	Solano	34.9 mi	$1,070

Questions

What is the Fair Market Rent for ZIP code 88416?

HUD's FY2027 Small Area Fair Market Rents for 88416 are $800 (studio), $930 (1 BR), $1,080 (2 BR), $1,500 (3 BR) and $1,690 (4 BR) a month.

What is the Section 8 payment standard in 88416?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88416 that range is $972 to $1,188 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 88416?

The FY2026 income limits of the San Miguel County, NM area apply: median family income $74,300, low-income (80%) limit $59,450 for a family of four.