Farmington, NM MSA
FY 2026 HUD Fair Market Rents for the Farmington, NM MSA metro area. Population: 121,798.
Fair Market Rents (2026)
Studio
National avg: $893
$882/mo
↑ 4.9% YoY
-1% vs US
1 Bedroom
National avg: $959
$885/mo
↑ 3.5% YoY
-8% vs US
2 Bedroom
National avg: $1,175
$1,085/mo
↑ 4.9% YoY
-8% vs US
3 Bedroom
National avg: $1,525
$1,509/mo
↑ 4.1% YoY
-1% vs US
4 Bedroom
National avg: $1,756
$1,630/mo
↑ 3.8% YoY
-7% vs US
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $841 | $882 | +$41 (+4.9%) |
| 1 Bedroom | $855 | $885 | +$30 (+3.5%) |
| 2 Bedroom | $1,034 | $1,085 | +$51 (+4.9%) |
| 3 Bedroom | $1,449 | $1,509 | +$60 (+4.1%) |
| 4 Bedroom | $1,571 | $1,630 | +$59 (+3.8%) |
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Required annual income for 1 BR
$35,400
$2,950/month gross
Required annual income for 2 BR
$43,400
$3,617/month gross
Data source: U.S. Department of Housing and Urban Development, FY 2026 Fair Market Rents. Fair Market Rents represent the 40th percentile of gross rents for standard quality units in each area.