Low Income Apartments and Affordable Housing For Rent in Socorro, NM

Discover affordable housing in Socorro where there are 8+ 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.

Loma Vista Apartments

1212 El Camino Real St, Socorro, New Mexico 87801

Vista Montano

301 Otero Ave E, Socorro, New Mexico 87801

Socorro Village Apartments

444 Eaton Ave, Socorro, New Mexico 87801

Cibola Apts

1101 El Camino Real, Socorro, New Mexico

Socorro Properties

901 NW Walkway, Socorro, New Mexico 87801

Neal and 6th

509 6th St N, Socorro, New Mexico 87801

Reservoir and Grant

207 Grant St, Socorro, New Mexico 87801

Granada IIc

713 Highway 60, Socorro, New Mexico 87801

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Socorro, New Mexico

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

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

What HUD offices serve Socorro, 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 Socorro, New Mexico.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Socorro, New Mexico.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Socorro, New Mexico.

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

How many renters live in Socorro, New Mexico?

The City of Socorro has people living in households.

There are renters living in renter households in this City. Renters make up 35.62 percent of the population living in Socorro.

What is the rental market like in Socorro, New Mexico?

There are an estimated housing units in the Socorro area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Socorro, New Mexico, there are 1.22 rental units.

What is the vacancy rate for rentals in Socorro?

The rental vacancy rate in Socorro is 13 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 Socorro for each bedroom size?

Occupied Rental Units by Size in Socorro
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
20 343 239 371 46
Occupied Rental Units by Size in Socorro

A large number of apartments in Socorro have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Socorro

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 $707
Two BR $877
Three BR $1,236
Four BR $1,488
2024 Fair Market Rents in Socorro, New Mexico

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

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 16 80 percent
One BR 282 82 percent
Two BR 153 64 percent
Rental Units Below FMR in Socorro, New Mexico

How many affordable rental units are in Socorro?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Socorro, New Mexico

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

Income Based Apartments in Socorro, New Mexico

Socorro features 204 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 Socorro, New Mexico

There are 9 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Socorro.

Housing Choice Vouchers in Socorro, New Mexico

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Socorro, New Mexico for a two-bedroom apartment is between $789 and $965.

Sourced from federal housing data and AffordableHousingOnline.com research.