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

Discover affordable housing in Albuquerque where there are 97+ 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.

Solar Villas

1135 Texas St NE, Albuquerque, New Mexico 87110

Nuevo Atrisco

201 Unser Blvd NW, Albuquerque, New Mexico 87121

Casa Feliz Apartments

443 Espanola Street Southeast, Albuquerque, New Mexico 87108

Cuatro Apartments

1319 4Th St , Albuquerque, New Mexico 87102

Sun Pointe Park Apartments

4057 Montgomery Blvd NE, Albuquerque, New Mexico 87109

Luminaria Senior Community

10600 Central Ave SE, Albuquerque, New Mexico 87123

Westwood Village Apartments

901 68th St NW, Albuquerque, New Mexico 87121

Montgomery Manor Apartments

4301 Morris St NE, Albuquerque, New Mexico 87111

The Commons at Martineztown

320 Roma Ave NE, Albuquerque, New Mexico 87109

Sterling Downtown

800 Silver Ave SW, Albuquerque, New Mexico 87102

La Vida Nueva Apartments

1200 Dickerson Dr SE, Albuquerque, New Mexico 87106

Valle De Atrisco Apartments

9901 Ceja Vista Rd SW, Albuquerque, New Mexico 87121

Madera Crossing

1751 Bellamah Ave , Albuquerque, New Mexico 87104

Plaza Feliz

509 San Pablo St SE, Albuquerque, New Mexico 87108

Gene Gilbert Manor

1001 Valencia Dr SE, Albuquerque, New Mexico 87108

Ahepa 501 Apartments

6800 Los Volcanes Rd NW, Albuquerque, New Mexico 87121

Saint Anthonys Plaza Apartments

1750 Indian School Rd NW, Albuquerque, New Mexico 87104

Ranchitos Village Apartments

6811 Ranchitos Rd NE, Albuquerque, New Mexico 87109

Villa Esperanza

3901 Lafayette Dr NE, Albuquerque, New Mexico 87107

Vern Jolly House Apartments

1600 Boatright Dr NE, Albuquerque, New Mexico 87112

calendar_today Opened: Aug 18
Open Until Further Notice

Reported On August 10th, 2023 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Albuquerque, New Mexico
$11.14 (+93%) more than New Mexico minimum wage and $15.89 (+219%) more than the Federal minimum wage.
Learn More About Albuquerque, New Mexico Affordable Housing ↓

What HUD offices serve Albuquerque, 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, Section 8 Project-Based Voucher (PBV), Rental Assistance Demonstration (RAD) programs for Albuquerque, New Mexico.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Veteran Affairs Supportive Housing (VASH), Family Unification Program (FUP) programs for Albuquerque, New Mexico.

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

How many renters live in Albuquerque, New Mexico?

The City of Albuquerque has 561,006 people living in 243,680 households.

There are 174,857 renters living in 88,700 renter households in this City. Renters make up 31.17 percent of the population living in Albuquerque.

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

There are an estimated 258,335 housing units in the Albuquerque area. Of these, 94,300 units are rental homes, making up 37 percent of the housing market. For every renter household in Albuquerque, New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in Albuquerque?

The rental vacancy rate in Albuquerque 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 Albuquerque for each bedroom size?

Occupied Rental Units by Size in Albuquerque
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
7,434 25,962 34,388 17,280 3,358
Occupied Rental Units by Size in Albuquerque

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

Among renter households in this market, 51 percent have housing cost burden. Further, 28 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 Albuquerque

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 Albuquerque, New Mexico

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

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 3,590 48 percent
One BR 16,543 64 percent
Two BR 19,759 57 percent
Rental Units Below FMR in Albuquerque, New Mexico

How many affordable rental units are in Albuquerque?

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

Federal Program Unit Count
Low Income Housing Tax Credit 6,816
Public Housing 760
Section 8 Project-Based Rental Assistance 1,625
Mod Rehab Project-Based Rental Assistance 7
Section 202 Supportive Housing for the Elderly 323
Section 811 Supportive Housing for Persons with Disabilities 140
Tracked Units by Federal Program in Albuquerque, New Mexico

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

Income Based Apartments in Albuquerque, New Mexico

Albuquerque features 3,161 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 Albuquerque, New Mexico

There are 6,421 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albuquerque.

Housing Choice Vouchers in Albuquerque, New Mexico

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Albuquerque, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.

Sourced from federal housing data and AffordableHousingOnline.com research.