The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Chimayo, NM 87522's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 87522 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,053 to a high of $1,287, with an average of $1,170.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,188, a maximum of $1,452, and an average of $1,320.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,386, peaking at a maximum of $1,694, and averaging at $1,540.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,773, a maximum of $2,167, and an average of $1,970.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,845 to a maximum of $2,255, with an average of $2,050.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Chimayo, NM 87522 Low Rent (90%) $1,053 $1,188 $1,386 $1,773 $1,845
Average Rent $1,170 $1,320 $1,540 $1,970 $2,050
High Rent(110%) $1,287 $1,452 $1,694 $2,167 $2,255
2023 Chimayo, NM 87522 Low Rent (90%) $855 $981 $1,125 $1,440 $1,602
Average Rent $950 $1,090 $1,250 $1,600 $1,780
High Rent (110%) $1,045 $1,199 $1,375 $1,760 $1,958
2022 Chimayo, NM 87522 Low Rent (90%) $657 $765 $873 $1,107 $1,278
Average Rent $730 $850 $970 $1,230 $1,420
High Rent(110%) $803 $935 $1,067 $1,353 $1,562
2021 Chimayo, NM 87522 Low Rent (90%) $657 $756 $864 $1,116 $1,251
Average Rent $730 $840 $960 $1,240 $1,390
High Rent (110%) $803 $924 $1,056 $1,364 $1,529
2020 Chimayo, NM 87522 Low Rent (90%) $666 $756 $873 $1,143 $1,260
Average Rent $740 $840 $970 $1,270 $1,400
High Rent(110%) $814 $924 $1,067 $1,397 $1,540
2019 Chimayo, NM 87522 Low Rent (90%) $630 $693 $819 $1,089 $1,179
Average Rent $700 $770 $910 $1,210 $1,310
High Rent (110%) $770 $847 $1,001 $1,331 $1,441


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