FY2026 Fair Market Rents — Chaves County
Studio
$738
1BR
$887
2BR
$1,071
3BR
$1,421
4BR
$1,562
Chaves County, New Mexico
FIPS 35005 · County-level FMR and income limit data
FMR Area: Chaves County, NM
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $738 | $8,856 |
| 1-Bedroom | $887 | $10,644 |
| 2-Bedroom | $1,071 | $12,852 |
| 3-Bedroom | $1,421 | $17,052 |
| 4-Bedroom | $1,562 | $18,744 |
To afford the FY2026 2-bedroom FMR of $1,071/mo under the 30%-of-income rule, a household needs about
$42,840/yr ($3,570/mo). Area Median Income is $65,600.
At NM's state minimum wage of $12.00/hr, a worker would need to work 69 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $738 | $887 | $1,071 | $1,421 | $1,562 |
| FY2025 | $693 | $737 | $953 | $1,234 | $1,413 |
| FY2024 | $692 | $737 | $969 | $1,239 | $1,358 |
| FY2023 | $649 | $674 | $887 | $1,121 | $1,221 |
| FY2022 | $613 | $618 | $814 | $1,051 | $1,169 |
| FY2021 | $681 | $686 | $904 | $1,167 | $1,298 |
| FY2020 | $612 | $617 | $812 | $1,047 | $1,229 |
FY2026 Income Limits
Area Median Income: $65,600
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $15,960 | $21,640 | $27,320 | $33,000 | $38,680 | $42,300 |
| 50% AMI | $25,550 | $29,200 | $32,850 | $36,450 | $39,400 | $42,300 |
| 80% AMI | $40,850 | $46,650 | $52,500 | $58,300 | $63,000 | $67,650 |