Affordable Housing In Ruidoso Downs
Lincoln County, New Mexico

Affordable Housing programs support 48 income based apartments in Ruidoso Downs where households pay rent based on how much they earn.

There are 120 affordable apartments in Ruidoso Downs that offer reduced rents to low-income households.

Waiting Lists in Ruidoso Downs, New Mexico

There are no open Section 8 Housing Choice Voucher waiting lists in Ruidoso Downs. Go to the New Mexico Section 8 Waiting Lists page for openings near Ruidoso Downs.

Ladera Courts

319 Dipaolo Hill Dr
Ruidoso Downs, New Mexico
Affordable

Di Paolo Street

Di Paolo St
Ruidoso Downs, New Mexico
Affordable

Inspiration Heights

301 Sierra Lane
Ruidoso Downs, New Mexico
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Affordable Housing Near Ruidoso Downs

View affordable apartments and waiting lists in cities near Ruidoso Downs

City Apartments
Affordable Housing In Carrizozo, NM Affordable Housing programs support 1 apartment communities in Carrizozo.
Affordable Housing In Ruidoso, NM Affordable Housing programs support 2 apartment communities in Ruidoso.

Public Housing Agencies Serving Ruidoso Downs, 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.

Housing Authority Programs
Eastern Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Ruidoso Downs.

Ruidoso Downs, New Mexico Affordable Housing Data

Income Based Apartments in Ruidoso Downs, New Mexico

Ruidoso Downs features 48 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 Downs, New Mexico

There are 120 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ruidoso Downs.

Housing Choice Vouchers in Ruidoso Downs, New Mexico

On average, Section 8 Housing Choice vouchers pay Ruidoso Downs landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Ruidoso Downs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ruidoso Downs, New Mexico for a two-bedroom apartment is between $716 and $875.

2023 Ruidoso Downs, 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
Ruidoso Downs, New Mexico Fair Market Rent $582 $614 $795 $1,048 $1,354
Ruidoso Downs, New Mexico Payment Standard Range $524 to $640 $553 to $675 $716 to $875 $943 to $1,153 $1,219 to $1,489

Sourced from federal housing data and AffordableHousingOnline.com research.

Ruidoso Downs, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 168
Total Housing Units with Rental Assistance 48
Percentage of Housing Units Occupied By Renters 46.36%
Average Renter Household Size 2.54
Average Household Size 2.82
Median Household Income $25,653 ±$10,991
Median Rent $552 ±$104
Percentage Of Renters Overburdened 52.27% ± 18.73pp
Total Population 2,674

Population and Household Demographics

Ruidoso Downs is a city in Lincoln County, New Mexico with a population of 2,674. There are 949 households in the city with an average household size of 2.82 persons. 46.36% of households in Ruidoso Downs are renters.

Income and Rent Overburden in Ruidoso Downs

The median gross income for households in Ruidoso Downs is $25,653 a year, or $2,138 a month. The median rent for the city is $552 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ruidoso Downs, a household making less than $1,840 a month would be considered overburdened when renting an apartment at or above the median rent. 52.27% of households who rent are overburdened in Ruidoso Downs.

Area Median Income In Ruidoso Downs

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 Ruidoso Downs, the AMI is calculated from all households within Lincoln County.

In Ruidoso Downs, HUD calculates the Area Median Income for a family of four as $66,300

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 Ruidoso Downs

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 Ruidoso Downs

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 Ruidoso Downs AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,950 $18,310 $23,030 $27,750 $32,470 $37,190 $41,150 $43,800
50% AMI Income Limits
Renters earning up to 50% of the Ruidoso Downs AMI may qualify for rental assistance programs that target Very Low Income households.
$23,250 $26,550 $29,850 $33,150 $35,850 $38,500 $41,150 $43,800
80% AMI Income Limits
Renters earning up to 80% of the Ruidoso Downs AMI may qualify for rental assistance programs that target Low Income households.
$37,150 $42,450 $47,750 $53,050 $57,300 $61,550 $65,800 $70,050