Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,008$12,096 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in San Miguel County, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: San Miguel 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 | $783 | $9,396 | $31,320 | $15.06/hr |
| 1-Bedroom Apartment | $920 | $11,040 | $36,800 | $17.69/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,008 | $12,096 | $40,320 | $19.38/hr |
| 3-Bedroom Home | $1,402 | $16,824 | $56,080 | $26.96/hr |
| 4-Bedroom Home | $1,626 | $19,512 | $65,040 | $31.27/hr |
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Frequently Asked Questions About Rent in San Miguel County, NM
What is the Fair Market Rent for a 2-bedroom in San Miguel County, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in San Miguel County, NM is $1,008 per month ($12,096 per year).
What hourly wage is needed to afford rent in San Miguel County, NM?
To comfortably afford a 2-bedroom apartment at $1,008/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.38 per hour ($40,320/year).
What are the HUD Fair Market Rents by bedroom count in San Miguel County, NM?
Official 2026 HUD rents in San Miguel County, NM are: Studio: $783/mo, 1-Bedroom: $920/mo, 2-Bedroom: $1,008/mo, 3-Bedroom: $1,402/mo, and 4-Bedroom: $1,626/mo.
How do HUD Fair Market Rents compare to local incomes in San Miguel County, NM?
At the local Census ACS median household income of $49,431/year ($4,119/month), the benchmark 2-bedroom Fair Market Rent represents 24.5% of monthly income.
How is the 30% housing affordability standard calculated in San Miguel County, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,008/month, the required minimum annual gross income is calculated as ($1,008 × 12) ÷ 0.30 = $40,320 per year.