San Tierra Apartments is operated under the Affordable Housing Program under Section 42 of the Internal Revenue Code. This program is designed to facilitate the housing needs of moderate-, middle- or low-income households. Residency at San Tierra requires that applicants meet certain qualifying standards established by the government and the Managing Agent.
Santa Fe's remodeled apartment community features spacious 2- and 3-bedroom apartments. The interiors were completely renovated and feature top of the line energy efficient windows, state-of-the-art heating and cooling systems, stain-resistant carpeting, wood cabinets, appliances and more.
Nestled on the southwest side of Santa Fe, San Tierra Apartments is close to everything in Santa Fe. Located between Highway 599 and Cerrillos Road, and just off Agua Fria, San Tierra is just minutes from downtown Santa Fe. At San Tierra, you will enjoy all of the shopping, golf, dining, and entertainment venues that Santa Fe has to offer.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
2 Bedroom (2/1) | 920 | $783 |
3 Bedroom (3/2) | 1130 | From $903 To $1,100 |
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Santa Fe but actual income limits may differ for units at San Tierra Apartments.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
Very Low Income (50%) | $29,900 | $34,150 | $38,400 | $42,650 | $46,100 | $49,500 |
Low Income (60%) | $35,880 | $40,980 | $46,080 | $51,180 | $55,320 | $59,400 |
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.