What HUD offices serve Socorro County, 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 Socorro County.
How many renters live in Socorro County, New Mexico?
The County of Socorro County has people living in households.
There are renters living in renter households in this County. Renters make up 22.89 percent of the population living in Socorro County.
What is the rental market like in Socorro County, New Mexico?
There are an estimated housing units in the Socorro County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Socorro County, New Mexico, there are 1.21 rental units.
What is the vacancy rate for rentals in Socorro County?
The rental vacancy rate in Socorro County 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 County for each bedroom size?
Occupied Rental Units by Size in Socorro County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 20 | 372 | 358 | 406 | 62 |
Occupied Rental Units by Size in Socorro County
A large number of apartments in Socorro County 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 County
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 County, New Mexico
How many units are rented at Fair Market Rent (FMR) in Socorro County?
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 | 289 | 78 percent |
| Two BR | 217 | 61 percent |
Rental Units Below FMR in Socorro County, New Mexico
How many affordable rental units are in Socorro County?
There are a variety of federal affordable housing programs serving households in Socorro County, 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 County, New Mexico
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Socorro County, New Mexico
Socorro County 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 County, New Mexico
There are 9 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Socorro County.
Housing Choice Vouchers in Socorro County, New Mexico
On average, Section 8 Housing Choice vouchers pay Socorro County landlords $600 per month towards rent. The average voucher holder contributes $200 towards rent in Socorro County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Socorro County, New Mexico for a two-bedroom apartment is between $789 and $965.
Sourced from federal housing data and AffordableHousingOnline.com research.