Cheap Apartments In Valencia County
New Mexico

Ventana Cove

450 Los Cerritos Dr NW
Los Lunas, NM
HCV Welcome

Belen Vista Apartments

531 Christopher Dr
Belen, NM
Subsidized

Belen Apartments

1200 Court St
Belen, NM
Subsidized

Casa Encantada

1014 Guapo Rd
Belen, NM
Accessable
Subsidized

Casa Bonita II

Camino Real SW
Los Lunas, NM
HCV Welcome

There are 16 low income housing apartment complexes which contain 559 affordable apartments for rent in Valencia County, New Mexico. Many of these rental apartments are income based housing with about 289 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 96 Project-Based Section 8 subsidized apartments in Valencia County. There are 746 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 Valencia County

The Western Regional Housing Authority is a Section 8 and Public Housing public housing agency in Silver City, New Mexico.

The El Camino Real Housing Authority is a Section 8 public housing agency in Socorro, New Mexico.

Understanding Affordable Housing in Valencia County, New Mexico

Valencia County, NM Affordable Housing Snapshot

Total Affordable Apartment Properties16
Total Low Income Apartments559
Total Rent Assisted Apartments289
Percentage of Housing Units Occupied By Renters20.3%
Average Renter Household Size2.89
Total Population76,297
Housing Units26,863
Average Household Size2.78
Median Household Income$41,703 ±$1,617
Median Rent$756 ±$56
Percentage Of Renters Overburdened51.38% ± 6.25pp

Population and Household Demographics

Valencia County is a County in New Mexico with a population of 76,297. There are 26,863 households in the county with an average household size of 2.78 persons. 20.3% of households in Valencia County are renters.

Income and Rent Overburden in Valencia County

The median gross income for households in Valencia County is $41,703 a year, or $3,475 a month. The median rent for the county is $756 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Valencia County, a household making less than $2,520 a month would be considered overburdened when renting an apartment at or above the median rent.51.38% of households who rent are overburdened in Valencia County.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 6.25 percentage points.

Area Median Income In Valencia 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 Valencia County, HUD calculates the Area Median Income for a family of four as $65,000

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 Valencia 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 Valencia County HUD Rental Assistance in Valencia County

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
30%$13,650$16,460$20,780$25,100$29,420$33,740$38,060$42,380
50%$22,750$26,000$29,250$32,500$35,100$37,700$40,300$42,900
80%$36,400$41,600$46,800$52,000$56,200$60,350$64,500$68,650

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 Valencia County

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

From 1992 to 2003, 11 low income apartment communities containing 385 rental apartments have been constructed and made affordable to low income persons in Valencia County by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Valencia 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 Valencia County

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
50%$22,750$26,000$29,250$32,500$35,100$37,700$40,300$42,900
60%$27,300$31,200$35,100$39,000$42,120$45,240$48,360$51,480

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 Valencia County is $35,100 a year, or $2,925 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,925 by 30% to get a maximum rent of $878 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 AMIStudio1 Bed2 Bed3 Bed4 Bed5 Bed
50%$569$609$731$845$943$1,040
60%$683$731$878$1,014$1,131$1,248
Fair Market Rents in Valencia 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.

2018 Fair Market Rents
StudioOne BRTwo BRThree BRFour BR
$557$707$873$1,270$1,513

Cities In Valencia County

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

CityListingsServed By
Los Lunas10The HUD funded Public Housing Agencies that serve Los Lunas are the Western Regional Housing Authority and El Camino Real Housing Authority.
Belen6The HUD funded Public Housing Agencies that serve Belen are the Western Regional Housing Authority and El Camino Real Housing Authority.
Adelino0The HUD funded Public Housing Agencies that serve Adelino are the Western Regional Housing Authority and El Camino Real Housing Authority.
Bosque Farms0The HUD funded Public Housing Agencies that serve Bosque Farms are the Western Regional Housing Authority and El Camino Real Housing Authority.
Casa Colorada0The HUD funded Public Housing Agencies that serve Casa Colorada are the Western Regional Housing Authority and El Camino Real Housing Authority.
Chical0The HUD funded Public Housing Agencies that serve Chical are the Western Regional Housing Authority and El Camino Real Housing Authority.
El Cerro0The HUD funded Public Housing Agencies that serve El Cerro are the Western Regional Housing Authority and El Camino Real Housing Authority.
El Cerro Mission0The HUD funded Public Housing Agencies that serve El Cerro Mission are the Western Regional Housing Authority and El Camino Real Housing Authority.
Highland Meadows0The HUD funded Public Housing Agencies that serve Highland Meadows are the Western Regional Housing Authority and El Camino Real Housing Authority.
Jarales0The HUD funded Public Housing Agencies that serve Jarales are the Western Regional Housing Authority and El Camino Real Housing Authority.
Las Maravillas0The HUD funded Public Housing Agencies that serve Las Maravillas are the Western Regional Housing Authority and El Camino Real Housing Authority.
Los Chaves0The HUD funded Public Housing Agencies that serve Los Chaves are the Western Regional Housing Authority and El Camino Real Housing Authority.
Madrone0The HUD funded Public Housing Agencies that serve Madrone are the Western Regional Housing Authority and El Camino Real Housing Authority.
Meadow Lake0The HUD funded Public Housing Agencies that serve Meadow Lake are the Western Regional Housing Authority and El Camino Real Housing Authority.
Monterey Park0The HUD funded Public Housing Agencies that serve Monterey Park are the Western Regional Housing Authority and El Camino Real Housing Authority.
Peralta0The HUD funded Public Housing Agencies that serve Peralta are the Western Regional Housing Authority and El Camino Real Housing Authority.
Pueblitos0The HUD funded Public Housing Agencies that serve Pueblitos are the Western Regional Housing Authority and El Camino Real Housing Authority.
Rio Communities0The HUD funded Public Housing Agencies that serve Rio Communities are the Western Regional Housing Authority and El Camino Real Housing Authority.
Sausal0The HUD funded Public Housing Agencies that serve Sausal are the Western Regional Housing Authority and El Camino Real Housing Authority.
Tome0The HUD funded Public Housing Agencies that serve Tome are the Western Regional Housing Authority and El Camino Real Housing Authority.
Valencia0The HUD funded Public Housing Agencies that serve Valencia are the Western Regional Housing Authority and El Camino Real Housing Authority.