Low Income Apartments In Las Vegas
San Miguel County, New Mexico

Low Income Apartments In Las Vegas

There are 12 low income housing apartment complexes which contain 822 affordable apartments for rent in Las Vegas, New Mexico. Many of these rental apartments are income based housing with about 440 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Las Vegas. There are 382 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Las Vegas

Housing Authority	Programs
Housing Authority of the City of Las Vegas	Public Housing
Housing Authority of the County of San Miguel	Public Housing
Housing Authority of San Miguel County	Section 8 Housing Choice Voucher
Bernalillo County Housing Department	Section 8 Housing Choice Voucher; Public Housing
Northern Regional Housing Authority	Section 8 Housing Choice Voucher; Public Housing; Veteran Affairs Supportive Housing

Guide To Affordable Housing in Las Vegas, New Mexico

Las Vegas, NM Affordable Housing Snapshot

Total Affordable Apartment Properties	12
Total Low Income Apartments	822
Total Rent Assisted Apartments	440
Percentage of Housing Units Occupied By Renters	37.98%
Average Renter Household Size	2.17
Total Population	13,713
Housing Units	5,081
Average Household Size	2.44
Median Household Income	$23,904 ±$4,345
Median Rent	$565 ±$35
Percentage Of Renters Overburdened	50.05% ± 8.94pp

Population and Household Demographics

Las Vegas is a City in San Miguel County, New Mexico with a population of 13,713. There are 5,081 households in the city with an average household size of 2.44 persons. 37.98% of households in Las Vegas are renters.

Income and Rent Overburden in Las Vegas

The median gross income for households in Las Vegas is $23,904 a year, or $1,992 a month. The median rent for the city is $565 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Las Vegas, a household making less than $1,883 a month would be considered overburdened when renting an apartment at or above the median rent. 50.05% of households who rent are overburdened in Las Vegas.¹

Area Median Income In Las Vegas

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 Las Vegas, the AMI is calculated from all households within San Miguel County.

In Las Vegas, HUD calculates the Area Median Income for a family of four as $45,700

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 Las Vegas

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 Las Vegas HUD Rental Assistance in Las Vegas

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$12,140	$16,460	$20,780	$25,100	$29,000	$31,150	$33,300	$35,450
50% of Median	$18,800	$21,500	$24,200	$26,850	$29,000	$31,150	$33,300	$35,450
80% of Median	$30,100	$34,400	$38,700	$42,950	$46,400	$49,850	$53,300	$56,700

Low Income Housing Tax Credits in Las Vegas

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 2002, 4 low income apartment communities containing 290 rental apartments have been constructed and made affordable to low income persons in Las Vegas by the Low Income Housing Tax Credit Program.

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 Las Vegas

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
60% of Median	$22,560	$25,800	$29,040	$32,220	$34,800	$37,380	$39,960	$42,540

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 Las Vegas is $29,040 a year, or $2,420 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,420 by 30% to get a maximum rent of $726 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%	$470	$504	$605	$698	$779	$859
60%	$564	$605	$726	$838	$935	$1,031

Fair Market Rents in Las Vegas

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.

2019 Fair Market Rents

Studio	One BR	Two BR	Three BR	Four BR
$628	$660	$817	$1,037	$1,208