What HUD offices serve Farmington, New Mexico?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Farmington.
How many renters live in Farmington, New Mexico?
The City of Farmington has 46,457 people living in 15,868 households.
There are 17,716 renters living in 5,882 renter households in this City. Renters make up 38.13 percent of the population living in Farmington.
What is the rental market like in Farmington, New Mexico?
There are an estimated 17,708 housing units in the Farmington area. Of these, 6,706 units are rental homes, making up 38 percent of the housing market. For every renter household in Farmington, New Mexico, there are 1 rental units.
What is the vacancy rate for rentals in Farmington?
The rental vacancy rate in Farmington is 12 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Farmington for each bedroom size?
Occupied Rental Units by Size in Farmington
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 582 | 622 | 2,165 | 2,115 | 338 |
Occupied Rental Units by Size in Farmington
A large number of apartments in Farmington have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Farmington are overburdened by housing costs?
Among renter households in this market, 42 percent have housing cost burden. Further, 22 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Farmington
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $843 to $1,526. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $843 |
| One BR | $847 |
| Two BR | $1,012 |
| Three BR | $1,426 |
| Four BR | $1,526 |
2024 Fair Market Rents in Farmington, New Mexico
How many units are rented at Fair Market Rent (FMR) in Farmington?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 361 | 62 percent |
| One BR | 424 | 68 percent |
| Two BR | 1,431 | 66 percent |
Rental Units Below FMR in Farmington, New Mexico
How many affordable rental units are in Farmington?
There are a variety of federal affordable housing programs serving households in Farmington, New Mexico including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 341 |
| Section 8 Project-Based Rental Assistance | 186 |
Tracked Units by Federal Program in Farmington, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Farmington, New Mexico
Farmington features 146 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Farmington, New Mexico
There are 198 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Farmington.
Housing Choice Vouchers in Farmington, New Mexico
On average, Section 8 Housing Choice vouchers pay Farmington landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Farmington.
The maximum amount a voucher would pay on behalf of a low-income tenant in Farmington, New Mexico for a two-bedroom apartment is between $911 and $1,113.
Sourced from federal housing data and AffordableHousingOnline.com research.
