Rental Benchmark Overview
2-Bedroom Benchmark Rent
$973$11,676 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Socorro County, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Socorro 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 | $723 | $8,676 | $28,920 | $13.90/hr |
| 1-Bedroom Apartment | $888 | $10,656 | $35,520 | $17.08/hr |
| 2-Bedroom ApartmentStandard Benchmark | $973 | $11,676 | $38,920 | $18.71/hr |
| 3-Bedroom Home | $1,353 | $16,236 | $54,120 | $26.02/hr |
| 4-Bedroom Home | $1,569 | $18,828 | $62,760 | $30.17/hr |
See comprehensive cost of living profile for Socorro County, NM →
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across New Mexico:
Frequently Asked Questions About Rent in Socorro County, NM
What is the Fair Market Rent for a 2-bedroom in Socorro County, NM?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Socorro County, NM is $973 per month ($11,676 per year).
What hourly wage is needed to afford rent in Socorro County, NM?
To comfortably afford a 2-bedroom apartment at $973/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.71 per hour ($38,920/year).
What are the HUD Fair Market Rents by bedroom count in Socorro County, NM?
Official 2026 HUD rents in Socorro County, NM are: Studio: $723/mo, 1-Bedroom: $888/mo, 2-Bedroom: $973/mo, 3-Bedroom: $1,353/mo, and 4-Bedroom: $1,569/mo.
How do HUD Fair Market Rents compare to local incomes in Socorro County, NM?
At the local Census ACS median household income of $36,570/year ($3,048/month), the benchmark 2-bedroom Fair Market Rent represents 31.9% of monthly income.
How is the 30% housing affordability standard calculated in Socorro County, NM?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $973/month, the required minimum annual gross income is calculated as ($973 × 12) ÷ 0.30 = $38,920 per year.