Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,685$20,220 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Santa Fe, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Santa Fe, 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 | $1,259 | $15,108 | $50,360 | $24.21/hr |
| 1-Bedroom Apartment | $1,390 | $16,680 | $55,600 | $26.73/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,685 | $20,220 | $67,400 | $32.40/hr |
| 3-Bedroom Home | $2,122 | $25,464 | $84,880 | $40.81/hr |
| 4-Bedroom Home | $2,231 | $26,772 | $89,240 | $42.90/hr |
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Frequently Asked Questions About Rent in Santa Fe, NM
What is the Fair Market Rent for a 2-bedroom in Santa Fe, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Santa Fe, NM is $1,685 per month ($20,220 per year).
What hourly wage is needed to afford rent in Santa Fe, NM?
To comfortably afford a 2-bedroom apartment at $1,685/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $32.40 per hour ($67,400/year).
What are the HUD Fair Market Rents by bedroom count in Santa Fe, NM?
Official 2026 HUD rents in Santa Fe, NM are: Studio: $1,259/mo, 1-Bedroom: $1,390/mo, 2-Bedroom: $1,685/mo, 3-Bedroom: $2,122/mo, and 4-Bedroom: $2,231/mo.
How do HUD Fair Market Rents compare to local incomes in Santa Fe, NM?
At the local Census ACS median household income of $73,482/year ($6,124/month), the benchmark 2-bedroom Fair Market Rent represents 27.5% of monthly income.
How is the 30% housing affordability standard calculated in Santa Fe, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,685/month, the required minimum annual gross income is calculated as ($1,685 × 12) ÷ 0.30 = $67,400 per year.