Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,324$15,888 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Lea County, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Lea 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 | $1,062 | $12,744 | $42,480 | $20.42/hr |
| 1-Bedroom Apartment | $1,068 | $12,816 | $42,720 | $20.54/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,324 | $15,888 | $52,960 | $25.46/hr |
| 3-Bedroom Home | $1,641 | $19,692 | $65,640 | $31.56/hr |
| 4-Bedroom Home | $1,829 | $21,948 | $73,160 | $35.17/hr |
See comprehensive cost of living profile for Lea County, NM →
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across New Mexico:
Frequently Asked Questions About Rent in Lea County, NM
What is the Fair Market Rent for a 2-bedroom in Lea County, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Lea County, NM is $1,324 per month ($15,888 per year).
What hourly wage is needed to afford rent in Lea County, NM?
To comfortably afford a 2-bedroom apartment at $1,324/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.46 per hour ($52,960/year).
What are the HUD Fair Market Rents by bedroom count in Lea County, NM?
Official 2026 HUD rents in Lea County, NM are: Studio: $1,062/mo, 1-Bedroom: $1,068/mo, 2-Bedroom: $1,324/mo, 3-Bedroom: $1,641/mo, and 4-Bedroom: $1,829/mo.
How do HUD Fair Market Rents compare to local incomes in Lea County, NM?
At the local Census ACS median household income of $68,015/year ($5,668/month), the benchmark 2-bedroom Fair Market Rent represents 23.4% of monthly income.
How is the 30% housing affordability standard calculated in Lea County, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,324/month, the required minimum annual gross income is calculated as ($1,324 × 12) ÷ 0.30 = $52,960 per year.