Refinance or buy a home with a low 3.5% down payment! Get Started Now ➔ Logo Otero County Fair Market Rent FY 2022 Otero County, NM Rental Data

Fair Market Rent Prices in Otero County, NM :
$545 $637 $726 $1,031 $1,243
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Non-Metro

Fair Market Rent prices in Otero County are very low compared to the national average. This FMR area is less expensive than 100% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Otero County is $726 per month.

The previous year, rent for a two-bedroom home was $757 per month. This is a 4.1% decrease year-over-year.

This FMR rate applies to Weed, NM, Bent, NM, Orogrande, NM, Sacramento, NM, Sunspot, NM, Timberon, NM, High Rolls Mountain Park, NM, Cloudcroft, NM, La Luz, NM, Holloman Air Force Base, NM and other cities within the region. The Metro Code or CBSA code for this region is NCNTY35035N35035.

Additionally, This Fair Market Rent (FMR) area Otero County, NM spans one county or city in which is listed in the table below. Estimated population of Otero County, NM FMR area is 65,130 people based on latest Census data.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Otero County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Otero County

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 557
1-BR 1-Bedroom $ 651
2-BR 2-Bedroom $ 742
3-BR 3-Bedroom $ 1054
4-BR 4-Bedroom $ 1270
Change Year:

There is just one county (listed below) within the Otero County, NM FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Albuquerque - Santa Fe.

County / Region Est. Population
, NM 65,130
Zip Codes in Otero County, NM

There are 14 unique zip codes in this Fair Market Rent (FMR) area:

88310, 88311, 88314, 88317, 88325, 88330, 88337, 88340, 88342, 88347, 88349, 88350, 88352 and 88354

Lookup Fair Market Rent by Zip Code
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