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

Discover affordable housing in Espanola where there are 6+ 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.

Villa Del Norte

737 La Joya Street NE, Espanola, New Mexico 87532

bed 1-2
switch_access_shortcut Short Wait
accessibility Accessible

Santa Clara Apartments

816 E Chamisal St, Espanola, New Mexico 87532

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Las Lomas Apartments

600 State Road 76, Espanola, New Mexico 87532

switch_access_shortcut Short Wait
accessibility Accessible

La Vista Del Rio Apartments

911 Avenida Canada, Espanola, New Mexico

Espanola Ph

143A Roman Dr, Espanola, New Mexico 87532

payment Subsidized
accessibility Accessible

737 La Joya Street

737 La Joya St, Espanola, New Mexico 87532

switch_access_shortcut Short Wait

How To Identify Affordable Housing in Espanola, New Mexico

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Espanola, New Mexico
$16.61/hour
$4.61 (+38%) more than New Mexico minimum wage and $9.36 (+129%) more than the Federal minimum wage.
Learn More About Espanola, New Mexico Affordable Housing ↓

What HUD offices serve Espanola, 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 programs for Espanola, New Mexico.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Veteran Affairs Supportive Housing (VASH) programs for Espanola, New Mexico.

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

How many renters live in Espanola, New Mexico?

The City of Espanola has people living in households.

There are renters living in renter households in this City. Renters make up 34.36 percent of the population living in Espanola.

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

There are an estimated housing units in the Espanola area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Espanola, New Mexico, there are 1.1 rental units.

What is the vacancy rate for rentals in Espanola?

The rental vacancy rate in Espanola is 6 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 Espanola for each bedroom size?

Occupied Rental Units by Size in Espanola
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
35 285 470 501 80
Occupied Rental Units by Size in Espanola

A large number of apartments in Espanola have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Espanola

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $666 to $1,168. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $666
One BR $670
Two BR $877
Three BR $1,060
Four BR $1,168
2024 Fair Market Rents in Espanola, New Mexico

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

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 15 43 percent
One BR 226 79 percent
Two BR 246 52 percent
Rental Units Below FMR in Espanola, New Mexico

How many affordable rental units are in Espanola?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Public Housing
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Espanola, New Mexico

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

Income Based Apartments in Espanola, New Mexico

Espanola features 325 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 Espanola, New Mexico

There are 150 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Espanola.

Housing Choice Vouchers in Espanola, New Mexico

On average, Section 8 Housing Choice vouchers pay Espanola landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Espanola.

The maximum amount a voucher would pay on behalf of a low-income tenant in Espanola, New Mexico for a two-bedroom apartment is between $789 and $965.

Sourced from federal housing data and AffordableHousingOnline.com research.