Affordable Housing In Santa Fe
Santa Fe County,
26 Low Income Apartment Communities In Santa Fe
Housing Authorities that serve Santa Fe
|Santa Fe Civic Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
|Housing Authority of the County of Santa Fe||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Santa Fe, New Mexico
There are 26 low income housing apartment communities offering 2,563 affordable apartments for rent in Santa Fe, New Mexico.
Income Based Apartments in Santa Fe, New Mexico
Santa Fe features 735 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 Santa Fe, New Mexico
There are 1,828 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Santa Fe.
Housing Choice Vouchers in Santa Fe, New Mexico
On average, Section 8 Housing Choice vouchers pay Santa Fe landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Santa Fe.
The maximum amount a voucher would pay on behalf of a low-income tenant in Santa Fe, New Mexico for a two-bedroom apartment is between $951 and $1,163.
2020 Santa Fe, 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|
|Fair Market Rent||$802||$928||$1,057||$1,376||$1,534|
|Payment Standard Range||$722 to $882||$835 to $1,021||$951 to $1,163||$1,238 to $1,514||$1,381 to $1,687|
Sourced from federal housing data and AffordableHousingOnline.com research.
Santa Fe, NM Affordable Housing Snapshot
|Total Affordable Apartment Properties||26|
|Total Low Income Apartments||2,563|
|Total Housing Units with Rental Assistance||735|
|Percentage of Housing Units Occupied By Renters||38.54%|
|Average Renter Household Size||2.19|
|Average Household Size||2.29|
|Median Household Income||$50,737 ±$1,409|
|Median Rent||$952 ±$18|
|Percentage Of Renters Overburdened||48.29% ± 3.09pp|
Population and Household Demographics
Santa Fe is a city in Santa Fe County, New Mexico with a population of 83,008. There are 35,592 households in the city with an average household size of 2.29 persons. 38.54% of households in Santa Fe are renters.
Income and Rent Overburden in Santa Fe
The median gross income for households in Santa Fe is $50,737 a year, or $4,228 a month. The median rent for the city is $952 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Santa Fe, a household making less than $3,173 a month would be considered overburdened when renting an apartment at or above the median rent. 48.29% of households who rent are overburdened in Santa Fe.
Area Median Income In Santa Fe
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 Santa Fe, the AMI is calculated from all households within Santa Fe County.
In Santa Fe, HUD calculates the Area Median Income for a family of four as $76,000
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 Santa Fe
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 Santa Fe
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$16,000||$18,250||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$26,600||$30,400||$34,200||$38,000||$41,050||$44,100||$47,150||$50,200|
|80% of Median||$42,600||$48,650||$54,750||$60,800||$65,700||$70,550||$75,400||$80,300|