Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,048$12,576 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Grant County, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Grant 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 | $795 | $9,540 | $31,800 | $15.29/hr |
| 1-Bedroom Apartment | $801 | $9,612 | $32,040 | $15.40/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,048 | $12,576 | $41,920 | $20.15/hr |
| 3-Bedroom Home | $1,304 | $15,648 | $52,160 | $25.08/hr |
| 4-Bedroom Home | $1,388 | $16,656 | $55,520 | $26.69/hr |
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Frequently Asked Questions About Rent in Grant County, NM
What is the Fair Market Rent for a 2-bedroom in Grant County, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Grant County, NM is $1,048 per month ($12,576 per year).
What hourly wage is needed to afford rent in Grant County, NM?
To comfortably afford a 2-bedroom apartment at $1,048/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.15 per hour ($41,920/year).
What are the HUD Fair Market Rents by bedroom count in Grant County, NM?
Official 2026 HUD rents in Grant County, NM are: Studio: $795/mo, 1-Bedroom: $801/mo, 2-Bedroom: $1,048/mo, 3-Bedroom: $1,304/mo, and 4-Bedroom: $1,388/mo.
How do HUD Fair Market Rents compare to local incomes in Grant County, NM?
At the local Census ACS median household income of $44,958/year ($3,747/month), the benchmark 2-bedroom Fair Market Rent represents 28% of monthly income.
How is the 30% housing affordability standard calculated in Grant County, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,048/month, the required minimum annual gross income is calculated as ($1,048 × 12) ÷ 0.30 = $41,920 per year.