Affordable Housing In Los Ranchos de Albuquerque
Bernalillo County, New Mexico

Housing Authorities that serve Los Ranchos de Albuquerque

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

Guide To Affordable Housing in Los Ranchos de Albuquerque, New Mexico

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Los Ranchos de Albuquerque, New Mexico. Los Ranchos de Albuquerque 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 Los Ranchos de Albuquerque.

Sourced from federal housing data and research.

Los Ranchos de Albuquerque, 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 31.33%
Average Renter Household Size 2.08
Average Household Size 2.34
Median Household Income $62,367 ±$22,961
Median Rent $807 ±$76
Percentage Of Renters Overburdened 54.57% ± 20.76pp
Total Population 6,067

Population and Household Demographics

Los Ranchos de Albuquerque is a City in Bernalillo County, New Mexico with a population of 6,067. There are 2,585 households in the city with an average household size of 2.34 persons. 31.33% of households in Los Ranchos de Albuquerque are renters.

Income and Rent Overburden in Los Ranchos de Albuquerque

The median gross income for households in Los Ranchos de Albuquerque is $62,367 a year, or $5,197 a month. The median rent for the city is $807 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Los Ranchos de Albuquerque, a household making less than $2,690 a month would be considered overburdened when renting an apartment at or above the median rent. 54.57% of households who rent are overburdened in Los Ranchos de Albuquerque.1

Area Median Income In Los Ranchos de Albuquerque

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 Ranchos de Albuquerque, the AMI is calculated from all households within Bernalillo County.

In Los Ranchos de Albuquerque, 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 Los Ranchos de Albuquerque

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 Los Ranchos de Albuquerque HUD Rental Assistance in Los Ranchos de Albuquerque

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
Fair Market Rents in Los Ranchos de Albuquerque

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