Low Income Apartments and Affordable Housing For Rent in Ruidoso Downs, NM

Discover affordable housing in Ruidoso Downs where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Ladera Courts

319 Dipaolo Hill Dr, Ruidoso Downs, New Mexico 88346

Inspiration Heights

301 Sierra Lane, Ruidoso Downs, New Mexico

Di Paolo Street

Di Paolo St, Ruidoso Downs, New Mexico 88346

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Ruidoso Downs, New Mexico
$4.61 (+38%) more than New Mexico minimum wage and $9.36 (+129%) more than the Federal minimum wage.
Learn More About Ruidoso Downs, New Mexico Affordable Housing ↓

What HUD offices serve 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Ruidoso Downs, New Mexico.

Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Ruidoso Downs.

How many renters live in Ruidoso Downs, New Mexico?

The City of Ruidoso Downs has 2,635 people living in 978 households.

There are 879 renters living in 358 renter households in this City. Renters make up 33.36 percent of the population living in Ruidoso Downs.

What is the rental market like in Ruidoso Downs, New Mexico?

There are an estimated 1,241 housing units in the Ruidoso Downs area. Of these, 358 units are rental homes, making up 29 percent of the housing market. For every renter household in Ruidoso Downs, New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in Ruidoso Downs?

The rental vacancy rate in Ruidoso Downs is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Ruidoso Downs for each bedroom size?

Occupied Rental Units by Size in Ruidoso Downs
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 67 212 79 0
Occupied Rental Units by Size in Ruidoso Downs

A large number of apartments in Ruidoso Downs 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 Downs are overburdened by housing costs?

Among renter households in this market, 65 percent have housing cost burden. Further, 54 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 Downs

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 Downs, New Mexico

How many units are rented at Fair Market Rent (FMR) in Ruidoso Downs?

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
One BR 67 100 percent
Two BR 127 60 percent
Rental Units Below FMR in Ruidoso Downs, New Mexico

How many affordable rental units are in Ruidoso Downs?

There are a variety of federal affordable housing programs serving households in Ruidoso Downs, New Mexico including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 45
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Ruidoso Downs, New Mexico

Rental units may be funded in part by multiple federal programs.

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 $789 and $965.

Sourced from federal housing data and AffordableHousingOnline.com research.