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

Find 8 low-income apartments and rental assistance options in Socorro County, NM – including subsidized, public, senior, HUD, and other government housing programs.

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

Open Until Further Notice

Reported On September 20th, 2018 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Socorro County, 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 County, New Mexico Affordable Housing ↓

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.

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

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 16,453 people living in 4,953 households.

There are 3,766 renters living in 1,241 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 7,621 housing units in the Socorro County area. Of these, 1,505 units are rental homes, making up 20 percent of the housing market. For every renter household in Socorro County, New Mexico, there are 1 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 many renter households in Socorro County are overburdened by housing costs?

Among renter households in this market, 55 percent have housing cost burden. Further, 18 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 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 44
Section 8 Project-Based Rental Assistance 137
USDA Section 515 Rural Rental Housing 108
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.