FY2027 Small Area FMR · Grenville, NM

ZIP 88424 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 88424 (Grenville, NM) is $1,010 a month, up 3.1% from FY2026. That is 0% equal to the Union County, NM area-wide FMR of $1,014.

2-bedroom SAFMR$1,010per month ▲ 3.1%

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

Rank in the area5thof 10 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$770▲ 6.9%

1 BR$780■ 0.0%

2 BR$1,010▲ 3.1%

3 BR$1,400▲ 4.5%

4 BR$1,600▲ 1.3%

FY2027 FY2026

Where 88424 sits in the Union County, NM area

Of the 10 ZIP codes HUD lists for the area, 88424 has the 5th highest two-bedroom Small Area FMR. Union 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	$770	$693 – $847	$773	$720
1 bedroom	$780	$702 – $858	$778	$780
2 bedrooms	$1,010	$909 – $1,111	$1,014	$980
3 bedrooms	$1,400	$1,260 – $1,540	$1,388	$1,340
4 bedrooms	$1,600	$1,440 – $1,760	$1,590	$1,580

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 $66,700 and the 80% low-income limit for four people is $58,300. ZIP code 88424 lies mainly in Union County. See the Union County, NM county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
88422	Gladstone	19.2 mi	$1,010
88415	Clayton	19.6 mi	$1,010
88418	Des Moines	22.0 mi	$1,010
88414	Capulin	31.0 mi	$1,010
88419	Folsom	34.2 mi	$1,010
88436	Sedan	35.3 mi	$1,050

Questions

What is the Fair Market Rent for ZIP code 88424?

HUD's FY2027 Small Area Fair Market Rents for 88424 are $770 (studio), $780 (1 BR), $1,010 (2 BR), $1,400 (3 BR) and $1,600 (4 BR) a month.

What is the Section 8 payment standard in 88424?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 88424 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 88424?

The FY2026 income limits of the Union County, NM area apply: median family income $66,700, low-income (80%) limit $58,300 for a family of four.