FY2026 Fair Market Rents — Farmington, NM MSA
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$882
1BR
$885
2BR
$1,085
3BR
$1,509
4BR
$1,630
Hours/week at min wage
70 hrs
to afford the 2BR FMR @ $12.00/hr (NM)
National rank
#480
of 661 U.S. metros (top 73% most expensive)
YoY change (2BR)
+4.9%
+$51 vs FY2025 · 5-yr +35.3%
Voucher payment standard
$977–$1,194
PHAs set HCV payment at 90–110% of the 2BR FMR
Farmington, NM MSA
Metropolitan area · NM · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $882 | $10,584 |
| 1-Bedroom | $885 | $10,620 |
| 2-Bedroom | $1,085 | $13,020 |
| 3-Bedroom | $1,509 | $18,108 |
| 4-Bedroom | $1,630 | $19,560 |
Recent 2-Bedroom FMR Trend
FY2020 $822 → FY2026 $1,085
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $882 | $885 | $1,085 | $1,509 | $1,630 |
| FY2025 | $841 | $855 | $1,034 | $1,449 | $1,571 |
| FY2024 | $843 | $847 | $1,012 | $1,426 | $1,526 |
| FY2023 | $756 | $769 | $909 | $1,277 | $1,391 |
| FY2022 | $724 | $734 | $850 | $1,133 | $1,317 |
| FY2021 | $687 | $695 | $802 | $1,055 | $1,224 |
| FY2020 | $702 | $713 | $822 | $1,079 | $1,205 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $80,300
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $16,900 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $28,150 | $32,150 | $36,150 | $40,150 | $43,400 | $46,600 |
| 80% AMI (Low) | $45,000 | $51,400 | $57,850 | $64,250 | $69,400 | $74,550 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$13,020/yr
FMR as % of Area Median Income
16.2% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$43,400/yr
$3,617/mo gross income
FY2026 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $702 | $803 | $903 | $1,084 | $1,164 |
| 60% AMI Maximum | $843 | $963 | $1,084 | $1,300 | $1,397 |
FY2026 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $882 | $885 | $1,085 | $1,304 | $1,304 |
| Low HOME Rent | $703 | $803 | $903 | $1,003 | $1,085 |