Affordable Housing In Ranchos de Taos
Housing Authorities that serve Ranchos de Taos
|Northern Regional Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH)|
Guide To Affordable Housing in Ranchos de Taos, New Mexico
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Ranchos de Taos, New Mexico.
Income Based Apartments in Ranchos de Taos, New Mexico
Ranchos de Taos features 0 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 Ranchos de Taos, New Mexico
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ranchos de Taos.
Housing Choice Vouchers in Ranchos de Taos, New Mexico
On average, Section 8 Housing Choice vouchers pay Ranchos de Taos landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Ranchos de Taos.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ranchos de Taos, New Mexico for a two-bedroom apartment is between $828 and $1,012.
2021 Ranchos de Taos, 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|
|Ranchos de Taos, New Mexico Fair Market Rent||$756||$760||$920||$1,144||$1,593|
|Ranchos de Taos, New Mexico Payment Standard Range||$680 to $832||$684 to $836||$828 to $1,012||$1,030 to $1,258||$1,434 to $1,752|
Sourced from federal housing data and AffordableHousingOnline.com research.
Ranchos de Taos, 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||21.46%|
|Average Renter Household Size||1.59|
|Average Household Size||2.92|
|Median Household Income||$35,293 ±$11,340|
|Median Rent||$476 ±$455|
|Percentage Of Renters Overburdened||50.28% ± 38.62pp|
Population and Household Demographics
Ranchos de Taos is a city in Taos County, New Mexico with a population of 2,435. There are 834 households in the city with an average household size of 2.92 persons. 21.46% of households in Ranchos de Taos are renters.
Income and Rent Overburden in Ranchos de Taos
The median gross income for households in Ranchos de Taos is $35,293 a year, or $2,941 a month. The median rent for the city is $476 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ranchos de Taos, a household making less than $1,587 a month would be considered overburdened when renting an apartment at or above the median rent. 50.28% of households who rent are overburdened in Ranchos de Taos.
Area Median Income In Ranchos de Taos
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 Ranchos de Taos, the AMI is calculated from all households within Taos County.
In Ranchos de Taos, HUD calculates the Area Median Income for a family of four as $48,800
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 Ranchos de Taos
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 Ranchos de Taos
|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 Ranchos de Taos AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Ranchos de Taos AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Ranchos de Taos AMI may qualify for rental assistance programs that target Low Income households.