Low Income Apartments In Laredo
Webb County, Texas

Low Income Apartments In Laredo

Laredo Manor Apts.

300 East Mann Road
Laredo, TX
$532-745
1-3 BR
Subsidized

Casa Verde Apartments

8501 Casa Verde Road
Laredo, TX
$511-975
1-3 BR
HCV Welcome

Rosemont at Laredo Vista

5606 Saint David
Laredo, TX
2-4 BR
HCV Welcome

Cherry Hills Apartments

1300 E Calton Rd
Laredo, TX
Subsidized

Tanis Valdez Village

300 Allende St
Laredo, TX
62+
Accessible
Elderly Supportive Housing
Subsidized

El Azteca Housing Development

200 Zaragoza St
Laredo, TX
HCV Welcome

Lulac Haven

4601 Juarez Ave
Laredo, TX
62+
Accessible
Elderly Supportive Housing
Subsidized

Fr. Ed Kircher Apartments

1406 Calle del Norte
Laredo, TX
62+
Accessible
Elderly Supportive Housing
Subsidized

Russell Terrace

3101 Springfield Ave
Laredo, TX

Carlos Cabello Apartments

606 E San Carlos St
Laredo, TX
HCV Welcome

There are 22 low income housing apartment complexes which contain 2,047 affordable apartments for rent in Laredo, Texas. Many of these rental apartments are income based housing with about 1,310 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 188 Project-Based Section 8 subsidized apartments in Laredo. There are 737 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 Laredo

Housing Authority Programs
Housing Authority of the City of Laredo Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Rental Assistance Demonstration (RAD); Moderate Rehabilitation; Section 8 Project-Based Rental Assistance (PBRA)

Guide To Affordable Housing in Laredo, Texas

Laredo, TX Affordable Housing Snapshot

Total Affordable Apartment Properties 22
Total Low Income Apartments 2,047
Total Rent Assisted Apartments 1,310
Percentage of Housing Units Occupied By Renters 37.6%
Average Renter Household Size 3.60
Total Population 248,855
Housing Units 66,308
Average Household Size 3.70
Median Household Income $39,711 ±$1,254
Median Rent $763 ±$11
Percentage Of Renters Overburdened 50.08% ± 2.84pp

Population and Household Demographics

Laredo is a City in Webb County, Texas with a population of 248,855. There are 66,308 households in the city with an average household size of 3.70 persons. 37.6% of households in Laredo are renters.

Income and Rent Overburden in Laredo

The median gross income for households in Laredo is $39,711 a year, or $3,309 a month. The median rent for the city is $763 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Laredo, a household making less than $2,543 a month would be considered overburdened when renting an apartment at or above the median rent. 50.08% of households who rent are overburdened in Laredo.1

Area Median Income In Laredo

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Laredo, the AMI is calculated from all households within Webb County.

In Laredo, HUD calculates the Area Median Income for a family of four as $40,600

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 Laredo

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 Laredo HUD Rental Assistance in Laredo

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $30,170 $34,050 $36,400 $38,750
50% of Median $20,550 $23,500 $26,450 $29,350 $31,700 $34,050 $36,400 $38,750
80% of Median $32,900 $37,600 $42,300 $46,950 $50,750 $54,500 $58,250 $62,000
Low Income Housing Tax Credits in Laredo

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

From 1988 to 2003, 9 low income apartment communities containing 511 rental apartments have been constructed and made affordable to low income persons in Laredo by the Low Income Housing Tax Credit Program.

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 Laredo

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $24,660 $28,200 $31,740 $35,220 $38,040 $40,860 $43,680 $46,500

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 Laredo is $31,740 a year, or $2,645 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,645 by 30% to get a maximum rent of $794 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% $514 $551 $661 $763 $851 $939
60% $617 $661 $794 $916 $1,022 $1,127
Fair Market Rents in Laredo

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
$664 $676 $857 $1,130 $1,307