Affordable Housing programs support 228 income based apartments in Socorro County where households pay rent based on how much they earn.
There are 41 affordable apartments in Socorro County that offer reduced rents to low-income households.
There is one Section 8 Housing Choice Voucher waiting list open in Socorro County.
Go to the New Mexico Section 8 Waiting Lists page for more openings near Socorro County.
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.
|El Camino Real Housing Authority||Section 8 Housing Choice Voucher (HCV)|
|Western Regional Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Socorro County features 228 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
There are 41 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Socorro County.
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 $716 and $875.
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|
|Socorro County, New Mexico Fair Market Rent||$582||$604||$795||$1,130||$1,354|
|Socorro County, New Mexico Payment Standard Range||$524 to $640||$544 to $664||$716 to $875||$1,017 to $1,243||$1,219 to $1,489|
Sourced from federal housing data and AffordableHousingOnline.com research.
|Total Affordable Apartment Properties||8|
|Total Low Income Apartments||269|
|Total Housing Units with Rental Assistance||228|
|Percentage of Housing Units Occupied By Renters||27.29%|
|Average Renter Household Size||3.47|
|Average Household Size||3.43|
|Median Household Income||$34,037 ±$2,408|
|Median Rent||$582 ±$37|
|Percentage Of Renters Overburdened||31.56% ± 6.84pp|
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.
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.
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 $54,900
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 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.
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Socorro County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Socorro County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Socorro County AMI may qualify for rental assistance programs that target Low Income households.