Low Income Apartments and Affordable Housing For Rent in New Mexico, NM

Discover affordable housing in New Mexico where there are 441+ 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.

Las Palomas Apartments

2001 Hopewell Street, Santa Fe, New Mexico 87505

Solar Villas

1135 Texas St NE, Albuquerque, New Mexico 87110

Nuevo Atrisco

201 Unser Blvd NW, Albuquerque, New Mexico 87121

Villa Consuelo Apartments

1200 Camino Consuelo, Santa Fe, New Mexico 87507

Villa San Jose

415 Del Rio St, Carlsbad, New Mexico 88220

Casa Feliz Apartments

443 Espanola Street Southeast, Albuquerque, New Mexico 87108

Cielo De Oro Senior Housing Apartments

1700 W Hendricks St, Roswell, New Mexico 88203

Cuatro Apartments

1319 4Th St , Albuquerque, New Mexico 87102

Casa Del Malpais

820 Lobo Canyon Rd, Grants, New Mexico 87020

Depot Apartments

701 W Maple, Moriarty, New Mexico 87035

Portales Properties

1903 S Avenue I, Portales, New Mexico 88130

Vista Mesa Villa Apartments

1121 Mount Taylor Ave, Grants, New Mexico 87020

Buena Vista Senior Apartments

1501 Good Samaritan Dr, Lovington, New Mexico 88260

Sun Pointe Park Apartments

4057 Montgomery Blvd NE, Albuquerque, New Mexico 87109

Luminaria Senior Community

10600 Central Ave SE, Albuquerque, New Mexico 87123

Lintero Apartments

2711 N Leslie Rd, Silver City, New Mexico 88061

Montgomery Manor Apartments

4301 Morris St NE, Albuquerque, New Mexico 87111

Northgate Village Apartments

2500 W Apache St, Farmington, New Mexico 87401

Highland Park Apartments

2013 S Triviz Dr, Las Cruces, New Mexico 88001

Sagebrush Place Apartments

650 Dani Dr, Gallup, New Mexico 87301

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In 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 New Mexico Affordable Housing ↓

How many renters live in New Mexico?

The State of New Mexico has 68,823 people living in 24,963 households.

There are 18,994 renters living in 7,680 renter households in this State. Renters make up 27.6 percent of the population living in New Mexico.

What is the rental market like in New Mexico?

There are an estimated 32,244 housing units in the New Mexico area. Of these, 9,122 units are rental homes, making up 28 percent of the housing market. For every renter household in New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in New Mexico?

The rental vacancy rate in New Mexico is 8 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 New Mexico for each bedroom size?

Occupied Rental Units by Size in New Mexico
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
239 841 2,845 3,398 791
Occupied Rental Units by Size in New Mexico

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

Among renter households in this market, 29 percent have housing cost burden. Further, 9 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 many units are rented at Fair Market Rent (FMR) in New Mexico?

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 148 62 percent
One BR 499 59 percent
Two BR 1,682 59 percent
Rental Units Below FMR in New Mexico

How many affordable rental units are in New Mexico?

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

Federal Program Unit Count
Low Income Housing Tax Credit 184
Public Housing 221
Section 8 Project-Based Rental Assistance 22
USDA Section 515 Rural Rental Housing 77
Tracked Units by Federal Program in New Mexico

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

Income Based Apartments in New Mexico

New Mexico features 13,930 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 New Mexico

There are 13,903 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Mexico.

Housing Choice Vouchers in New Mexico

On average, Section 8 Housing Choice vouchers pay New Mexico landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in New Mexico.

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

Sourced from federal housing data and AffordableHousingOnline.com research.