Rent by ZIP · Bernalillo County
Rent in Albuquerque, NM 87123
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,320 (-0.8% vs FY2026). Renters in this ZIP code pay a median $1,086 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $910 | $920 | -1.1% | $819–1,001 | $984 ±$151 |
| 1 bedroom | $1,070 | $1,080 | -0.9% | $963–1,177 | $975 ±$50 |
| 2 bedrooms | $1,320 | $1,330 | -0.8% | $1,188–1,452 | $1,125 ±$94 |
| 3 bedrooms | $1,840 | $1,850 | -0.5% | $1,656–2,024 | $1,430 ±$212 |
| 4 bedrooms | $2,160 | $2,180 | -0.9% | $1,944–2,376 | $1,725 ±$589 |
Small Area FMRs for the Albuquerque, NM MSA. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Albuquerque, NM MSA, 2 bedrooms: $1,384.
What renters pay in 87123
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 87122 | Albuquerque | $2,080 | $1,754 |
| 87124 | Rio Rancho | $1,680 | $1,317 |
| 87121 | Albuquerque | $1,630 | $1,127 |
| 87120 | Albuquerque | $1,700 | $1,410 |
| 87116 | Albuquerque | $2,080 | $1,727 |
| 87114 | Albuquerque | $1,560 | $1,364 |
Fair Market Rents across Bernalillo County, NM · All NM counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.