What HUD offices serve Los Ranchos, 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 Los Ranchos.
How many renters live in Los Ranchos, New Mexico?
The City of Los Ranchos has 5,894 people living in 2,446 households.
There are 858 renters living in 559 renter households in this City. Renters make up 14.56 percent of the population living in Los Ranchos.
What is the rental market like in Los Ranchos, New Mexico?
There are an estimated 2,579 housing units in the Los Ranchos area. Of these, 559 units are rental homes, making up 22 percent of the housing market. For every renter household in Los Ranchos, New Mexico, there are 1 rental units.
What is the vacancy rate for rentals in Los Ranchos?
The rental vacancy rate in Los Ranchos is 0 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 Los Ranchos for each bedroom size?
Occupied Rental Units by Size in Los Ranchos
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 332 | 193 | 25 | 9 |
Occupied Rental Units by Size in Los Ranchos
A large number of apartments in Los Ranchos 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 Los Ranchos are overburdened by housing costs?
Among renter households in this market, 67 percent have housing cost burden. Further, 32 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 Los Ranchos
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $828 to $2,064. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $828 |
| One BR | $1,005 |
| Two BR | $1,222 |
| Three BR | $1,722 |
| Four BR | $2,064 |
2024 Fair Market Rents in Los Ranchos, New Mexico
How many units are rented at Fair Market Rent (FMR) in Los Ranchos?
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 |
| One BR | 240 | 72 percent |
| Two BR | 132 | 68 percent |
Rental Units Below FMR in Los Ranchos, New Mexico
How many affordable rental units are in Los Ranchos?
There are a variety of federal affordable housing programs serving households in Los Ranchos, New Mexico including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 290 |
Tracked Units by Federal Program in Los Ranchos, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Los Ranchos, New Mexico
Los Ranchos features 0 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 Los Ranchos, New Mexico
There are 290 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Los Ranchos.
Housing Choice Vouchers in Los Ranchos, New Mexico
On average, Section 8 Housing Choice vouchers pay Los Ranchos landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Los Ranchos.
The maximum amount a voucher would pay on behalf of a low-income tenant in Los Ranchos, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.
Sourced from federal housing data and AffordableHousingOnline.com research.
