Low Income Apartments and Affordable Housing For Rent in Bayard, NM

Discover affordable housing in Bayard where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

100 Runnels Dr

100 Runnels Dr, Bayard, New Mexico 88023

Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Bayard, New Mexico
$16.61/hour
$4.61 (+38%) more than New Mexico minimum wage and $9.36 (+129%) more than the Federal minimum wage.
Learn More About Bayard, New Mexico Affordable Housing ↓

What HUD offices serve Bayard, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Bayard, New Mexico.

Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Bayard.

How many renters live in Bayard, New Mexico?

The City of Bayard has 2,152 people living in 861 households.

There are 868 renters living in 316 renter households in this City. Renters make up 40.33 percent of the population living in Bayard.

What is the rental market like in Bayard, New Mexico?

There are an estimated 1,183 housing units in the Bayard area. Of these, 331 units are rental homes, making up 28 percent of the housing market. For every renter household in Bayard, New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in Bayard?

The rental vacancy rate in Bayard is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Bayard for each bedroom size?

Occupied Rental Units by Size in Bayard
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
10 47 174 85 0
Occupied Rental Units by Size in Bayard

A large number of apartments in Bayard 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 Bayard are overburdened by housing costs?

Among renter households in this market, 23 percent have housing cost burden. Further, 10 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 Bayard

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $728 to $1,303. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $728
One BR $733
Two BR $877
Three BR $1,209
Four BR $1,303
2024 Fair Market Rents in Bayard, New Mexico

How many units are rented at Fair Market Rent (FMR) in Bayard?

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 9 90 percent
One BR 39 83 percent
Two BR 143 82 percent
Rental Units Below FMR in Bayard, New Mexico

How many affordable rental units are in Bayard?

There are a variety of federal affordable housing programs serving households in Bayard, New Mexico including the following:

Federal Program Unit Count
Public Housing 41
Tracked Units by Federal Program in Bayard, New Mexico

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Bayard, New Mexico

Bayard features 70 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 Bayard, New Mexico

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bayard.

Housing Choice Vouchers in Bayard, New Mexico

On average, Section 8 Housing Choice vouchers pay Bayard landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Bayard.

The maximum amount a voucher would pay on behalf of a low-income tenant in Bayard, New Mexico for a two-bedroom apartment is between $789 and $965.

Sourced from federal housing data and AffordableHousingOnline.com research.