What HUD offices serve Ruidoso, New Mexico?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Ruidoso.
How many renters live in Ruidoso, New Mexico?
The City of Ruidoso has 7,696 people living in 3,593 households.
There are 2,335 renters living in 1,288 renter households in this City. Renters make up 30.34 percent of the population living in Ruidoso.
What is the rental market like in Ruidoso, New Mexico?
There are an estimated 8,341 housing units in the Ruidoso area. Of these, 1,757 units are rental homes, making up 21 percent of the housing market. For every renter household in Ruidoso, New Mexico, there are 1 rental units.
What is the vacancy rate for rentals in Ruidoso?
The rental vacancy rate in Ruidoso is 27 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Ruidoso for each bedroom size?
Occupied Rental Units by Size in Ruidoso
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 114 | 273 | 456 | 424 | 21 |
Occupied Rental Units by Size in Ruidoso
A large number of apartments in Ruidoso have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Ruidoso are overburdened by housing costs?
Among renter households in this market, 54 percent have housing cost burden. Further, 15 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Ruidoso
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $627 to $1,488. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $627 |
| One BR | $667 |
| Two BR | $877 |
| Three BR | $1,156 |
| Four BR | $1,488 |
2024 Fair Market Rents in Ruidoso, New Mexico
How many units are rented at Fair Market Rent (FMR) in Ruidoso?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 3 | 3 percent |
| One BR | 111 | 41 percent |
| Two BR | 196 | 43 percent |
Rental Units Below FMR in Ruidoso, New Mexico
How many affordable rental units are in Ruidoso?
There are a variety of federal affordable housing programs serving households in Ruidoso, New Mexico including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 60 |
Tracked Units by Federal Program in Ruidoso, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ruidoso, New Mexico
Ruidoso features 71 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 Ruidoso, New Mexico
There are 60 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ruidoso.
Housing Choice Vouchers in Ruidoso, New Mexico
On average, Section 8 Housing Choice vouchers pay Ruidoso landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Ruidoso.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ruidoso, New Mexico for a two-bedroom apartment is between $789 and $965.
Sourced from federal housing data and AffordableHousingOnline.com research.