Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,188$14,256 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Eddy County, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Eddy County, NM
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $1,035 | $12,420 | $41,400 | $19.90/hr |
| 1-Bedroom Apartment | $1,084 | $13,008 | $43,360 | $20.85/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,188 | $14,256 | $47,520 | $22.85/hr |
| 3-Bedroom Home | $1,619 | $19,428 | $64,760 | $31.13/hr |
| 4-Bedroom Home | $1,625 | $19,500 | $65,000 | $31.25/hr |
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Frequently Asked Questions About Rent in Eddy County, NM
What is the Fair Market Rent for a 2-bedroom in Eddy County, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Eddy County, NM is $1,188 per month ($14,256 per year).
What hourly wage is needed to afford rent in Eddy County, NM?
To comfortably afford a 2-bedroom apartment at $1,188/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $22.85 per hour ($47,520/year).
What are the HUD Fair Market Rents by bedroom count in Eddy County, NM?
Official 2026 HUD rents in Eddy County, NM are: Studio: $1,035/mo, 1-Bedroom: $1,084/mo, 2-Bedroom: $1,188/mo, 3-Bedroom: $1,619/mo, and 4-Bedroom: $1,625/mo.
How do HUD Fair Market Rents compare to local incomes in Eddy County, NM?
At the local Census ACS median household income of $78,426/year ($6,536/month), the benchmark 2-bedroom Fair Market Rent represents 18.2% of monthly income.
How is the 30% housing affordability standard calculated in Eddy County, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,188/month, the required minimum annual gross income is calculated as ($1,188 × 12) ÷ 0.30 = $47,520 per year.