What HUD offices serve Rio Rancho, 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 Rio Rancho.
How many renters live in Rio Rancho, New Mexico?
The City of Rio Rancho has 108,072 people living in 40,116 households.
There are 14,205 renters living in 6,238 renter households in this City. Renters make up 13.14 percent of the population living in Rio Rancho.
What is the rental market like in Rio Rancho, New Mexico?
There are an estimated 39,680 housing units in the Rio Rancho area. Of these, 7,957 units are rental homes, making up 20 percent of the housing market. For every renter household in Rio Rancho, New Mexico, there are 1 rental units.
What is the vacancy rate for rentals in Rio Rancho?
The rental vacancy rate in Rio Rancho is 9 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 Rio Rancho for each bedroom size?
Occupied Rental Units by Size in Rio Rancho
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 195 | 658 | 1,987 | 3,347 | 760 |
Occupied Rental Units by Size in Rio Rancho
A large number of apartments in Rio Rancho 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 Rio Rancho are overburdened by housing costs?
Among renter households in this market, 60 percent have housing cost burden. Further, 24 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 Rio Rancho
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 Rio Rancho, New Mexico
How many units are rented at Fair Market Rent (FMR) in Rio Rancho?
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 | 37 | 19 percent |
| One BR | 328 | 50 percent |
| Two BR | 1,038 | 52 percent |
Rental Units Below FMR in Rio Rancho, New Mexico
How many affordable rental units are in Rio Rancho?
There are a variety of federal affordable housing programs serving households in Rio Rancho, New Mexico including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 367 |
Tracked Units by Federal Program in Rio Rancho, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Rio Rancho, New Mexico
Rio Rancho 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 Rio Rancho, New Mexico
There are 476 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rio Rancho.
Housing Choice Vouchers in Rio Rancho, New Mexico
On average, Section 8 Housing Choice vouchers pay Rio Rancho landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Rio Rancho.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rio Rancho, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.
Sourced from federal housing data and AffordableHousingOnline.com research.
