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

Santa Clara Apartments

816 E Chamisal St, Espanola, New Mexico 87532

Las Lomas Apartments

600 State Road 76, Espanola, New Mexico 87532

La Vista Del Rio Apartments

911 Avenida Canada, Espanola, New Mexico

Espanola Ph

143A Roman Dr, Espanola, New Mexico 87532

737 La Joya Street

737 La Joya St, Espanola, New Mexico 87532

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 10,473 people living in 3,899 households.

There are 3,598 renters living in 1,380 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 4,831 housing units in the Espanola area. Of these, 1,512 units are rental homes, making up 31 percent of the housing market. For every renter household in Espanola, New Mexico, there are 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 many renter households in Espanola are overburdened by housing costs?

Among renter households in this market, 38 percent have housing cost burden. Further, 18 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 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 101
Public Housing 178
Section 8 Project-Based Rental Assistance 34
USDA Section 515 Rural Rental Housing 97
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.