ZIP 87718 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 87718 in the Colfax County, NM FMR area.

$1,020Efficiency
$1,1801 bedroom
$1,2802 bedrooms
$1,7403 bedrooms
$2,0104 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,020$918$1,122$807
1 bedroom$1,180$1,062$1,298$931
2 bedrooms$1,280$1,152$1,408$1,014
3 bedrooms$1,740$1,566$1,914$1,376
4 bedrooms$2,010$1,809$2,211$1,590

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 87718

$55,664average adjusted gross income per tax return (2022)
$30,060average salaries and wages per return
250tax returns filed
28%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00032.0%
$25,000 to $50,00028.0%
$50,000 to $75,00020.0%
$75,000 to $100,0000.0%
$100,000 to $200,00020.0%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 87718?

HUD's FY2027 Small Area FMRs for ZIP 87718 (Colfax County, NM) are $1,020 efficiency, $1,180 one bedroom, $1,280 two bedrooms, $1,740 three and $2,010 four bedrooms.

What payment standard can a housing authority set in ZIP 87718?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,152 to $1,408.

How affordable is rent in ZIP 87718?

Tax returns filed from ZIP 87718 reported an average adjusted gross income of $55,664 (2022). A two-bedroom unit at the Small Area FMR costs $15,360 a year, or 28% of that income.