Affordable Housing In Los Lunas
10 Low Income Apartment Communities In Los Lunas
Housing Authorities that serve Los Lunas
|Western Regional Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
|El Camino Real Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Los Lunas, New Mexico
There are 10 low income housing apartment communities offering 370 affordable apartments for rent in Los Lunas, New Mexico.
Income Based Apartments in Los Lunas, New Mexico
Los Lunas features 100 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 Los Lunas, New Mexico
There are 270 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Los Lunas.
Housing Choice Vouchers in Los Lunas, New Mexico
On average, Section 8 Housing Choice vouchers pay Los Lunas landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Los Lunas.
The maximum amount a voucher would pay on behalf of a low-income tenant in Los Lunas, New Mexico for a two-bedroom apartment is between $846 and $1,034.
2021 Los Lunas, New Mexico Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Los Lunas, New Mexico Fair Market Rent||$621||$770||$940||$1,345||$1,617|
|Los Lunas, New Mexico Payment Standard Range||$559 to $683||$693 to $847||$846 to $1,034||$1,211 to $1,480||$1,455 to $1,779|
Sourced from federal housing data and AffordableHousingOnline.com research.
Los Lunas, NM Affordable Housing Snapshot
|Total Affordable Apartment Properties||10|
|Total Low Income Apartments||370|
|Total Housing Units with Rental Assistance||100|
|Percentage of Housing Units Occupied By Renters||20.17%|
|Average Renter Household Size||2.85|
|Average Household Size||2.72|
|Median Household Income||$52,166 ±$2,507|
|Median Rent||$902 ±$111|
|Percentage Of Renters Overburdened||56.29% ± 13.08pp|
Population and Household Demographics
Los Lunas is a city in Valencia County, New Mexico with a population of 15,281. There are 5,557 households in the city with an average household size of 2.72 persons. 20.17% of households in Los Lunas are renters.
Income and Rent Overburden in Los Lunas
The median gross income for households in Los Lunas is $52,166 a year, or $4,347 a month. The median rent for the city is $902 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Los Lunas, a household making less than $3,007 a month would be considered overburdened when renting an apartment at or above the median rent. 56.29% of households who rent are overburdened in Los Lunas.
Area Median Income In Los Lunas
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 Los Lunas, the AMI is calculated from all households within Valencia County.
In Los Lunas, HUD calculates the Area Median Income for a family of four as $69,100
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 Los Lunas
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 HUD Rental Assistance in Los Lunas
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Los Lunas AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Los Lunas AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Los Lunas AMI may qualify for rental assistance programs that target Low Income households.