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Villa San Jose

415 Del Rio St, Carlsbad, New Mexico 88220

Offering spacious apartments at a great price, this housing complex is perfect for those who seek great living.

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 750 Call for Price
Two Bedroom (2/1) 1000 Call for Price

Villa San Jose Details

  • 60 one and two bedroom units.
  • Section 202 Supportive Housing for the Elderly
  • HOME Investment Partnerships Program
  • Low-Income Housing Tax Credit (LIHTC)

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Carlsbad HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Carlsbad but actual income limits may differ for units at Villa San Jose.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,850 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% $24,750 $28,300 $31,850 $35,350 $38,200 $41,050 $43,850 $46,700
80% $39,600 $45,250 $50,900 $56,550 $61,100 $65,600 $70,150 $74,650
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