Affordable Housing In Socorro
El Paso County,
7 Low Income Apartment Communities In Socorro
Housing Authorities that serve Socorro
|El Paso County Housing Authority||Section 8 Housing Choice Voucher (HCV)|
|El Paso County Housing Authority||Public Housing|
Guide To Affordable Housing in Socorro, Texas
There are 7 low income housing apartment communities offering 398 affordable apartments for rent in Socorro, Texas.
Income Based Apartments in Socorro, Texas
Socorro features 50 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 Socorro, Texas
There are 348 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Socorro.
Housing Choice Vouchers in Socorro, Texas
On average, Section 8 Housing Choice vouchers pay Socorro landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Socorro.
The maximum amount a voucher would pay on behalf of a low-income tenant in Socorro, Texas for a two-bedroom apartment is between $748 and $914.
2021 Socorro, Texas Fair Market Rents and Housing Choice Voucher Payment Standards
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, Texas Fair Market Rent||$548||$687||$831||$1,174||$1,415|
|Socorro, Texas Payment Standard Range||$493 to $603||$618 to $756||$748 to $914||$1,057 to $1,291||$1,274 to $1,557|
Sourced from federal housing data and AffordableHousingOnline.com research.
Socorro, TX Affordable Housing Snapshot
|Total Affordable Apartment Properties||7|
|Total Low Income Apartments||398|
|Total Housing Units with Rental Assistance||50|
|Percentage of Housing Units Occupied By Renters||25.58%|
|Average Renter Household Size||3.85|
|Average Household Size||3.66|
|Median Household Income||$30,789 ±$1,712|
|Median Rent||$649 ±$83|
|Percentage Of Renters Overburdened||53% ± 9.17pp|
Population and Household Demographics
Socorro is a city in El Paso County, Texas with a population of 32,877. There are 8,984 households in the city with an average household size of 3.66 persons. 25.58% of households in Socorro are renters.
Income and Rent Overburden in Socorro
The median gross income for households in Socorro is $30,789 a year, or $2,566 a month. The median rent for the city is $649 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Socorro, a household making less than $2,163 a month would be considered overburdened when renting an apartment at or above the median rent. 53% of households who rent are overburdened in Socorro.
Area Median Income In Socorro
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 Socorro, the AMI is calculated from all households within El Paso County.
In Socorro, HUD calculates the Area Median Income for a family of four as $52,500
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
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 HUD Rental Assistance in Socorro
|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 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 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 AMI may qualify for rental assistance programs that target Low Income households.