Cheap Apartments In Lea County
New Mexico

Buena Vista

1501 Good Samaritan Dr
Lovington, NM
62+
Accessable
Subsidized

The Cedars

501 W Alto Dr
Hobbs, NM
62+
Accessable
Subsidized

Willow Bend Villas

1000 N. Marland Blvd.
Hobbs, NM
HCV Welcome

Hobbs Apartments

2001 E Clinton St
Hobbs, NM
Subsidized

Washington Place Apartments

1405 E Marland St
Hobbs, NM
Subsidized

There are 13 low income housing apartment complexes which contain 758 affordable apartments for rent in Lea County, New Mexico. Many of these rental apartments are income based housing with about 544 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 359 Project-Based Section 8 subsidized apartments in Lea County. There are 362 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 Lea County

The Eastern Regional Housing Authority is a Section 8 and Public Housing public housing agency in Roswell, New Mexico.

Other Housing Authorities located in Lea County

The Housing Authority of the City of Lovington is a Public Housing public housing agency in Lovington, New Mexico.

The Housing Authority of the City of Eunice is a Public Housing public housing agency in Eunice, New Mexico.

Understanding Affordable Housing in Lea County, New Mexico

Lea County, NM Affordable Housing Snapshot

Total Affordable Apartment Properties13
Total Low Income Apartments758
Total Rent Assisted Apartments544
Percentage of Housing Units Occupied By Renters30.54%
Average Renter Household Size2.96
Total Population68,149
Housing Units21,449
Average Household Size3.08
Median Household Income$57,533 ±$3,185
Median Rent$768 ±$51
Percentage Of Renters Overburdened28.94% ± 3.59pp

Population and Household Demographics

Lea County is a County in New Mexico with a population of 68,149. There are 21,449 households in the county with an average household size of 3.08 persons. 30.54% of households in Lea County are renters.

Income and Rent Overburden in Lea County

The median gross income for households in Lea County is $57,533 a year, or $4,794 a month. The median rent for the county is $768 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lea County, a household making less than $2,560 a month would be considered overburdened when renting an apartment at or above the median rent.28.94% of households who rent are overburdened in Lea County.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 3.59 percentage points.

Area Median Income In Lea County

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.

In Lea County, HUD calculates the Area Median Income for a family of four as $66,900

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 Lea County

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 Lea County HUD Rental Assistance in Lea County

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
30%$14,050$16,460$20,780$25,100$29,420$33,740$38,060$42,380
50%$23,450$26,800$30,150$33,450$36,150$38,850$41,500$44,200
80%$37,450$42,800$48,150$53,500$57,800$62,100$66,350$70,650

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Lea County

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

From 1997 to 2005, 6 low income apartment communities containing 281 rental apartments have been constructed and made affordable to low income persons in Lea County by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Lea County by looking for the tag in the apartment list above. View Apartments.

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 Lea County

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
50%$23,450$26,800$30,150$33,450$36,150$38,850$41,500$44,200
60%$28,140$32,160$36,180$40,140$43,380$46,620$49,800$53,040

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 Lea County is $36,180 a year, or $3,015 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,015 by 30% to get a maximum rent of $905 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 AMIStudio1 Bed2 Bed3 Bed4 Bed5 Bed
50%$586$628$754$870$971$1,071
60%$704$754$905$1,044$1,166$1,286
Fair Market Rents in Lea County

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.

2018 Fair Market Rents
StudioOne BRTwo BRThree BRFour BR
$642$646$805$1,065$1,226

Cities In Lea County

Select A City to View its Apartment Communities and Waiting Lists.

CityListingsServed By
Lovington4The HUD funded Public Housing Agency that serves Lovington is the Housing Authority of the City of Lovington.
Hobbs9
Eunice0
Jal0
Monument0
Nadine0
North Hobbs0
Tatum0