Cheap Apartments In Socorro County
New Mexico

Low Income Apartments In Socorro County

Socorro Village Apartments

444 Eaton Ave
Socorro, NM
Subsidized

Vista Montano

301 Otero Ave E
Socorro, NM
62+
Accessible
Elderly Supportive Housing
HCV Welcome
Subsidized

Neal and 6th

509 6th St N
Socorro, NM
HCV Welcome

Loma Vista Apartments

1212 El Camino Real St
Socorro, NM
Subsidized

Granada IIc

713 Highway 60
Socorro, NM
HCV Welcome

Magdalena Hall Hotel

404 2nd St
Magdalena, NM
HCV Welcome

Reservoir and Grant

207 Grant St
Socorro, NM
HCV Welcome

Socorro Properties

901 NW Walkway
Socorro, NM
HCV Welcome
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There are 8 low income housing apartment complexes which contain 265 affordable apartments for rent in Socorro County, New Mexico. Many of these rental apartments are income based housing with about 208 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 40 Project-Based Section 8 subsidized apartments in Socorro County. There are 246 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Socorro County

Housing Authority Programs
El Camino Real Housing Authority Section 8 Housing Choice Voucher
Western Regional Housing Authority Section 8 Housing Choice Voucher; Public Housing

Other Housing Authorities located in Socorro County

Housing Authority Programs
Housing Authority of the Village of Los Lunas Section 8 Housing Choice Voucher

Understanding Affordable Housing in Socorro County, New Mexico

Socorro County, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 265
Total Rent Assisted Apartments 208
Percentage of Housing Units Occupied By Renters 27.29%
Average Renter Household Size 3.47
Total Population 17,494
Housing Units 4,947
Average Household Size 3.43
Median Household Income $34,037 ±$2,408
Median Rent $582 ±$37
Percentage Of Renters Overburdened 31.56% ± 6.84pp

Population and Household Demographics

Socorro County is a County in New Mexico with a population of 17,494. There are 4,947 households in the county with an average household size of 3.43 persons. 27.29% of households in Socorro County are renters.

Income and Rent Overburden in Socorro County

The median gross income for households in Socorro County is $34,037 a year, or $2,836 a month. The median rent for the county is $582 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Socorro County, a household making less than $1,940 a month would be considered overburdened when renting an apartment at or above the median rent. 31.56% of households who rent are overburdened in Socorro County.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 6.84 percentage points.

Area Median Income In Socorro County

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.

In Socorro County, HUD calculates the Area Median Income for a family of four as $43,600

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 Socorro County

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 Socorro County HUD Rental Assistance in Socorro County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,140 $16,460 $20,780 $25,100 $29,000 $31,150 $33,300 $35,450
50% of Median $18,800 $21,500 $24,200 $26,850 $29,000 $31,150 $33,300 $35,450
80% of Median $30,100 $34,400 $38,700 $42,950 $46,400 $49,850 $53,300 $56,700

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Socorro County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1999 to 1999, 10 low income apartment communities containing 61 rental apartments have been constructed and made affordable to low income persons in Socorro County by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Socorro County by looking for the tag in the apartment list above. View Apartments.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Socorro County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,800 $21,500 $24,200 $26,850 $29,000 $31,150 $33,300 $35,450
60% of Median $22,560 $25,800 $29,040 $32,220 $34,800 $37,380 $39,960 $42,540

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Socorro County is $29,040 a year, or $2,420 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,420 by 30% to get a maximum rent of $726 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $470 $504 $605 $698 $779 $859
60% $564 $605 $726 $838 $935 $1,031
Fair Market Rents in Socorro County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$571 $627 $718 $987 $1,145

Cities In Socorro County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Socorro 7 The HUD funded Public Housing Agencies that serve Socorro are the Housing Authority of the Village of Los Lunas, El Camino Real Housing Authority and Western Regional Housing Authority.
Magdalena 1 The HUD funded Public Housing Agencies that serve Magdalena are the El Camino Real Housing Authority and Western Regional Housing Authority.
Luis Lopez 0 The HUD funded Public Housing Agencies that serve Luis Lopez are the El Camino Real Housing Authority and Western Regional Housing Authority.
Abeytas 0 The HUD funded Public Housing Agencies that serve Abeytas are the Western Regional Housing Authority and El Camino Real Housing Authority.
Alamillo 0 The HUD funded Public Housing Agencies that serve Alamillo are the Western Regional Housing Authority and El Camino Real Housing Authority.
Alamo 0 The HUD funded Public Housing Agencies that serve Alamo are the Western Regional Housing Authority and El Camino Real Housing Authority.
Chamizal 0 The HUD funded Public Housing Agencies that serve Chamizal are the Western Regional Housing Authority and El Camino Real Housing Authority.
Escondida 0 The HUD funded Public Housing Agencies that serve Escondida are the Western Regional Housing Authority and El Camino Real Housing Authority.
La Joya 0 The HUD funded Public Housing Agencies that serve La Joya are the Western Regional Housing Authority and El Camino Real Housing Authority.
Las Nutrias 0 The HUD funded Public Housing Agencies that serve Las Nutrias are the Western Regional Housing Authority and El Camino Real Housing Authority.
Lemitar 0 The HUD funded Public Housing Agencies that serve Lemitar are the Western Regional Housing Authority and El Camino Real Housing Authority.
Polvadera 0 The HUD funded Public Housing Agencies that serve Polvadera are the Western Regional Housing Authority and El Camino Real Housing Authority.
San Acacia 0 The HUD funded Public Housing Agencies that serve San Acacia are the Western Regional Housing Authority and El Camino Real Housing Authority.
San Antonio 0 The HUD funded Public Housing Agencies that serve San Antonio are the Western Regional Housing Authority and El Camino Real Housing Authority.
San Antonito 0 The HUD funded Public Housing Agencies that serve San Antonito are the Western Regional Housing Authority and El Camino Real Housing Authority.
Veguita 0 The HUD funded Public Housing Agencies that serve Veguita are the Western Regional Housing Authority and El Camino Real Housing Authority.