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There are 144 low-income apartments in Las Vegas that offer reduced rents to eligible households.
Rental assistance programs support 494 low-income homes in Las Vegas where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $277 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Las Vegas, 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.
| Housing Authority | Programs |
|---|---|
| Housing Authority of the City of Las Vegas | Public Housing |
| Housing Authority of the County of San Miguel | Public Housing |
| Housing Authority of San Miguel County | Section 8 Housing Choice Voucher (HCV) |
| Bernalillo County Housing Department | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Family Unification Program (FUP) |
| Northern Regional Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH) |
Las Vegas, New Mexico Affordable Housing Data
Income Based Apartments in Las Vegas, New Mexico
Las Vegas features 494 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 Las Vegas, New Mexico
There are 144 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Las Vegas.
Housing Choice Vouchers in Las Vegas, New Mexico
On average, Section 8 Housing Choice vouchers pay Las Vegas landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Las Vegas.
The maximum amount a voucher would pay on behalf of a low-income tenant in Las Vegas, New Mexico for a two-bedroom apartment is between $789 and $965.
2024 Las Vegas, New Mexico 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 | |
|---|---|---|---|---|---|
| Las Vegas, New Mexico Fair Market Rent | $703 | $781 | $877 | $1,186 | $1,384 |
| Las Vegas, New Mexico Payment Standard Range | $633 to $773 | $703 to $859 | $789 to $965 | $1,067 to $1,305 | $1,246 to $1,522 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Las Vegas, NM Affordable Housing Snapshot
| Total Affordable Apartment Properties | 11 |
|---|---|
| Total Low Income Apartments | 638 |
| Total Housing Units with Rental Assistance | 494 |
| Percentage of Housing Units Occupied By Renters | 37.98% |
| Average Renter Household Size | 2.17 |
| Average Household Size | 2.44 |
| Median Household Income | $23,904 ±$4,345 |
| Median Rent | $565 ±$35 |
| Percentage Of Renters Overburdened | 50.05% ± 8.94pp |
| Total Population | 13,713 |
Population and Household Demographics
Las Vegas is a city in San Miguel County, New Mexico with a population of 13,713. There are 5,081 households in the city with an average household size of 2.44 persons. 37.98% of households in Las Vegas are renters.
Income and Rent Overburden in Las Vegas
The median gross income for households in Las Vegas is $23,904 a year, or $1,992 a month. The median rent for the city is $565 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Las Vegas, a household making less than $1,883 a month would be considered overburdened when renting an apartment at or above the median rent. 50.05% of households who rent are overburdened in Las Vegas.
Area Median Income In Las Vegas
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 Las Vegas, the AMI is calculated from all households within San Miguel County.
In Las Vegas, HUD calculates the Area Median Income for a family of four as $52,800
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 Las Vegas
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 Las Vegas
| 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 Las Vegas AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $34,900 | $37,500 | $40,100 | $42,650 |
| 50% AMI Income Limits Renters earning up to 50% of the Las Vegas AMI may qualify for rental assistance programs that target Very Low Income households. |
$22,650 | $25,850 | $29,100 | $32,300 | $34,900 | $37,500 | $40,100 | $42,650 |
| 80% AMI Income Limits Renters earning up to 80% of the Las Vegas AMI may qualify for rental assistance programs that target Low Income households. |
$36,200 | $41,350 | $46,500 | $51,650 | $55,800 | $59,950 | $64,050 | $68,200 |
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