Affordable Housing In Albuquerque
Bernalillo County, New Mexico

82 Low Income Apartment Communities In Albuquerque

Casa Feliz Apartments

443 Espanola St
Albuquerque, NM
Call For Rent
Studio-3 BR
HCV Welcome

Solar Villas

1135 Texas St NE
Albuquerque, NM
Call For Rent
1 BR
HCV Welcome
Subsidized

Cuatro Apartments

1319 4Th St
Albuquerque, NM
Call For Rent
Studio-2 BR
HCV Welcome

Madera Crossing

1751 Bellamah Ave
Albuquerque, NM
$180
Studio BR
HCV Welcome

Generations at West Mesa

5715 Avalon Rd NW
Albuquerque, NM
HCV Welcome

The Imperial Building

205 Silver Avenue SW
Albuquerque, NM
HCV Welcome

Nuevo Atrisco

7909 Central Avenue
Albuquerque, NM
Call For Rent
1-3 BR
HCV Welcome

La Resolana Apartments

1025 Chelwood Park Blvd NE
Albuquerque, NM
Subsidized

New Life Homes 3

6801 Gwin Rd SW
Albuquerque, NM
Accessible
Disabled Supportive Housing
Subsidized

Vern Jolly House Apartments

1600 Boatright Dr NE
Albuquerque, NM
62+
Accessible
Elderly Supportive Housing
Subsidized

Housing Authorities that serve Albuquerque

Housing Authority Programs
Albuquerque Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Section 8 Project-Based Voucher (PBV); Rental Assistance Demonstration (RAD)
Bernalillo County Housing Department Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Albuquerque, New Mexico

There are 82 low income housing apartment communities offering 94,944 affordable apartments for rent in Albuquerque, New Mexico. Albuquerque features 2,987 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 91,957 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Albuquerque.

Sourced from federal housing data and AffordableHousingOnline.com research.

Albuquerque, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 82
Total Low Income Apartments 94,944
Total Housing Units with Rental Assistance 2,987
Percentage of Housing Units Occupied By Renters 40.9%
Average Renter Household Size 2.32
Average Household Size 2.48
Median Household Income $47,030 ±$776
Median Rent $799 ±$10
Percentage Of Renters Overburdened 50.04% ± 1.43pp
Total Population 556,092

Population and Household Demographics

Albuquerque is a City in Bernalillo County, New Mexico with a population of 556,092. There are 222,098 households in the city with an average household size of 2.48 persons. 40.9% of households in Albuquerque are renters.

Income and Rent Overburden in Albuquerque

The median gross income for households in Albuquerque is $47,030 a year, or $3,919 a month. The median rent for the city is $799 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albuquerque, a household making less than $2,663 a month would be considered overburdened when renting an apartment at or above the median rent. 50.04% of households who rent are overburdened in Albuquerque.1

Area Median Income In Albuquerque

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Albuquerque, the AMI is calculated from all households within Bernalillo County.

In Albuquerque, HUD calculates the Area Median Income for a family of four as $65,700

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Albuquerque

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Albuquerque HUD Rental Assistance in Albuquerque

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,800 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,400
50% of Median $23,000 $26,300 $29,600 $32,850 $35,500 $38,150 $40,750 $43,400
80% of Median $36,800 $42,050 $47,300 $52,550 $56,800 $61,000 $65,200 $69,400
Low Income Housing Tax Credits in Albuquerque

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1992 to 2007, 30 low income apartment communities containing 4,523 rental apartments have been constructed and made affordable to low income persons in Albuquerque by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Albuquerque

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,000 $26,300 $29,600 $32,850 $35,500 $38,150 $40,750 $43,400
60% of Median $27,600 $31,560 $35,520 $39,420 $42,600 $45,780 $48,900 $52,080

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Albuquerque is $35,520 a year, or $2,960 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,960 by 30% to get a maximum rent of $888 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $575 $616 $740 $854 $954 $1,052
60% $690 $740 $888 $1,025 $1,145 $1,262
Fair Market Rents in Albuquerque

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$571 $713 $877 $1,265 $1,506