Affordable Housing In Bayard
Grant County, New Mexico

1 Low Income Apartment Communities In Bayard

100 Runnels Dr

100 Runnels Dr
Bayard, New Mexico
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Section 8 Vouchers, Apartments, and Waiting Lists in Bayard, 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Bayard, New Mexico

Housing Authority Programs
Western Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Bayard, New Mexico

There are 1 low income housing apartment communities offering 70 affordable apartments for rent in Bayard, New Mexico.

Income Based Apartments in Bayard, New Mexico

Bayard features 70 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 Bayard, New Mexico

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bayard.

Housing Choice Vouchers in Bayard, New Mexico

On average, Section 8 Housing Choice vouchers pay Bayard landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Bayard.

The maximum amount a voucher would pay on behalf of a low-income tenant in Bayard, New Mexico for a two-bedroom apartment is between $653 and $799.

2022 Bayard, New Mexico Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Bayard, New Mexico Fair Market Rent $567 $616 $726 $990 $1,192
Bayard, New Mexico Payment Standard Range $510 to $624 $554 to $678 $653 to $799 $891 to $1,089 $1,073 to $1,311

Sourced from federal housing data and research.

Bayard, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 70
Total Housing Units with Rental Assistance 70
Percentage of Housing Units Occupied By Renters 34.3%
Average Renter Household Size 2.92
Average Household Size 2.59
Median Household Income $30,081 ±$6,006
Median Rent $587 ±$103
Percentage Of Renters Overburdened 50% ± 17.58pp
Total Population 2,490

Population and Household Demographics

Bayard is a city in Grant County, New Mexico with a population of 2,490. There are 962 households in the city with an average household size of 2.59 persons. 34.3% of households in Bayard are renters.

Income and Rent Overburden in Bayard

The median gross income for households in Bayard is $30,081 a year, or $2,507 a month. The median rent for the city is $587 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bayard, a household making less than $1,957 a month would be considered overburdened when renting an apartment at or above the median rent. 50% of households who rent are overburdened in Bayard.

Area Median Income In Bayard

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 Bayard, the AMI is calculated from all households within Grant County.

In Bayard, HUD calculates the Area Median Income for a family of four as $55,100

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 Bayard

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 HUD Rental Assistance in Bayard

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Bayard AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $29,800 $32,000 $34,200 $36,400
50% AMI Income Limits
Renters earning up to 50% of the Bayard AMI may qualify for rental assistance programs that target Very Low Income households.
$19,300 $22,050 $24,800 $27,550 $29,800 $32,000 $34,200 $36,400
80% AMI Income Limits
Renters earning up to 80% of the Bayard AMI may qualify for rental assistance programs that target Low Income households.
$30,900 $35,300 $39,700 $44,100 $47,650 $51,200 $54,700 $58,250