ZIP 87747 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 87747 in the Colfax County, NM FMR area.

$810Efficiency
$9301 bedroom
$1,0102 bedrooms
$1,3903 bedrooms
$1,6004 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$810$729$891$807
1 bedroom$930$837$1,023$931
2 bedrooms$1,010$909$1,111$1,014
3 bedrooms$1,390$1,251$1,529$1,376
4 bedrooms$1,600$1,440$1,760$1,590

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

Income in ZIP 87747

$47,300average adjusted gross income per tax return (2022)
$29,256average salaries and wages per return
540tax returns filed
26%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00040.7%
$25,000 to $50,00027.8%
$50,000 to $75,00016.7%
$75,000 to $100,0007.4%
$100,000 to $200,0007.4%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 20.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 87747?

HUD's FY2027 Small Area FMRs for ZIP 87747 (Colfax County, NM) are $810 efficiency, $930 one bedroom, $1,010 two bedrooms, $1,390 three and $1,600 four bedrooms.

What payment standard can a housing authority set in ZIP 87747?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $909 to $1,111.

How affordable is rent in ZIP 87747?

Tax returns filed from ZIP 87747 reported an average adjusted gross income of $47,300 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 26% of that income.