What HUD offices serve Wagon Mound, 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 Wagon Mound.
How many renters live in Wagon Mound, New Mexico?
The City of Wagon Mound has 491 people living in 270 households.
There are 106 renters living in 67 renter households in this City. Renters make up 21.59 percent of the population living in Wagon Mound.
What is the rental market like in Wagon Mound, New Mexico?
There are an estimated 349 housing units in the Wagon Mound area. Of these, 67 units are rental homes, making up 19 percent of the housing market. For every renter household in Wagon Mound, New Mexico, there are 1 rental units.
What is the vacancy rate for rentals in Wagon Mound?
The rental vacancy rate in Wagon Mound 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 Wagon Mound for each bedroom size?
Occupied Rental Units by Size in Wagon Mound
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 2 | 35 | 21 | 9 |
Occupied Rental Units by Size in Wagon Mound
A large number of apartments in Wagon Mound 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 Wagon Mound are overburdened by housing costs?
Among renter households in this market, 16 percent have housing cost burden. Further, 6 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 Wagon Mound
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $627 to $1,488. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $627 |
| One BR | $707 |
| Two BR | $877 |
| Three BR | $1,184 |
| Four BR | $1,488 |
2024 Fair Market Rents in Wagon Mound, New Mexico
How many units are rented at Fair Market Rent (FMR) in Wagon Mound?
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 | 0 | 100 percent |
| Two BR | 28 | 80 percent |
Rental Units Below FMR in Wagon Mound, New Mexico
How many affordable rental units are in Wagon Mound?
There are a variety of federal affordable housing programs serving households in Wagon Mound, New Mexico including the following:
| Federal Program | Unit Count |
| Public Housing | 19 |
Tracked Units by Federal Program in Wagon Mound, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wagon Mound, New Mexico
Wagon Mound features 19 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 Wagon Mound, New Mexico
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wagon Mound.
Housing Choice Vouchers in Wagon Mound, New Mexico
On average, Section 8 Housing Choice vouchers pay Wagon Mound landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Wagon Mound.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wagon Mound, New Mexico for a two-bedroom apartment is between $789 and $965.
Sourced from federal housing data and AffordableHousingOnline.com research.
