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

Discover affordable housing in Torrance County where there are 2+ 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.

Depot Apartments

701 W Maple, Moriarty, New Mexico 87035

Depot Apartments

Maple Ave, Moriarty, New Mexico 87035

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 Torrance County, New Mexico
$11.14 (+93%) more than New Mexico minimum wage and $15.89 (+219%) more than the Federal minimum wage.
Learn More About Torrance County, New Mexico Affordable Housing ↓

What HUD offices serve Torrance 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 Torrance County, New Mexico.

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

How many renters live in Torrance County, New Mexico?

The County of Torrance County has 15,203 people living in 5,599 households.

There are 2,426 renters living in 941 renter households in this County. Renters make up 15.96 percent of the population living in Torrance County.

What is the rental market like in Torrance County, New Mexico?

There are an estimated 7,230 housing units in the Torrance County area. Of these, 987 units are rental homes, making up 14 percent of the housing market. For every renter household in Torrance County, New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in Torrance County?

The rental vacancy rate in Torrance County is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Torrance County for each bedroom size?

Occupied Rental Units by Size in Torrance County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
18 73 274 504 72
Occupied Rental Units by Size in Torrance County

A large number of apartments in Torrance 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 Torrance County are overburdened by housing costs?

Among renter households in this market, 32 percent have housing cost burden. Further, 14 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 Torrance County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $828 to $2,064. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $828
One BR $1,005
Two BR $1,222
Three BR $1,722
Four BR $2,064
2024 Fair Market Rents in Torrance County, New Mexico

How many units are rented at Fair Market Rent (FMR) in Torrance 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 18 100 percent
One BR 67 92 percent
Two BR 177 65 percent
Rental Units Below FMR in Torrance County, New Mexico

How many affordable rental units are in Torrance County?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 1
USDA Section 515 Rural Rental Housing 28
Tracked Units by Federal Program in Torrance County, New Mexico

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

Income Based Apartments in Torrance County, New Mexico

Torrance County features 56 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 Torrance County, New Mexico

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Torrance County.

Housing Choice Vouchers in Torrance County, New Mexico

On average, Section 8 Housing Choice vouchers pay Torrance County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Torrance County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Torrance County, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.

Sourced from federal housing data and AffordableHousingOnline.com research.