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Depot Apartments

701 W Maple, Moriarty, New Mexico 87035

Located in Moriarty, New Mexico, The Depot apartments are a highly reviewed apartment complex. Call today to get pricing on one, two and three bedroom apartments!

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Call for Price
Two Bedroom (2/1) - Call for Price
Three Bedroom (3/1) - Call for Price

Depot Apartments Details

  • 28 one, two and three bedroom units.
  • Section 515 Rural Rental Housing
  • Section 521 USDA Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Unit Amenities

  • Fully Equipped Kitchen
  • Electric Range
  • Individual heating and cooling systems

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Moriarty HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Moriarty but actual income limits may differ for units at Depot Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,550 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% $24,200 $27,650 $31,100 $34,550 $37,350 $40,100 $42,850 $45,650
80% $38,750 $44,250 $49,800 $55,300 $59,750 $64,150 $68,600 $73,000

Depot Apartments is managed by Medlock Southwest Management Corporation.