Affordable Housing In Isleta Village Proper
Bernalillo County, New Mexico

Housing Authorities that serve Isleta Village Proper

Housing Authority Programs
Bernalillo County Housing Department Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Isleta Village Proper, New Mexico

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Isleta Village Proper, New Mexico. Isleta Village Proper features 0 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Isleta Village Proper.

Sourced from federal housing data and AffordableHousingOnline.com research.

Isleta Village Proper, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 13.54%
Average Renter Household Size 2.35
Average Household Size 2.65
Median Household Income $37,500 ±$31,124
Median Rent $0 ±$0
Percentage Of Renters Overburdened 0% ± 84.62pp
Total Population 509

Population and Household Demographics

Isleta Village Proper is a City in Bernalillo County, New Mexico with a population of 509. There are 192 households in the city with an average household size of 2.65 persons. 13.54% of households in Isleta Village Proper are renters.

Income and Rent Overburden in Isleta Village Proper

The median gross income for households in Isleta Village Proper is $37,500 a year, or $3,125 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Isleta Village Proper, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Isleta Village Proper.1

Area Median Income In Isleta Village Proper

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 Isleta Village Proper, the AMI is calculated from all households within Bernalillo County.

In Isleta Village Proper, 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 Isleta Village Proper

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 Isleta Village Proper HUD Rental Assistance in Isleta Village Proper

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

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 Isleta Village Proper

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 Isleta Village Proper 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 Isleta Village Proper

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