Apply to Valencia County Apartment Waiting Lists
Rio Verde Apartments
Altura Apartments Ltd
Belen Vista Apartments
Encantada Apartments
Belen Apartments
Westside Apartments, Ltd
Mondel Apartments
Gerald Chavez Apartments
Hilltop Apartments
There are 142 low-income apartments in Valencia County that offer reduced rents to eligible households.
Rental assistance programs support 395 low-income homes in Valencia County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $291 towards rent each month.
Affordable rent data for some communities last confirmed on June 25th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Valencia County, 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 |
|---|---|
| Western Regional Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| El Camino Real Housing Authority | Section 8 Housing Choice Voucher (HCV) |
Valencia County, New Mexico Affordable Housing Data
Income Based Apartments in Valencia County, New Mexico
Valencia County features 395 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 Valencia County, New Mexico
There are 142 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Valencia County.
Housing Choice Vouchers in Valencia County, New Mexico
On average, Section 8 Housing Choice vouchers pay Valencia County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Valencia County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Valencia County, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.
2024 Valencia County, 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 | |
|---|---|---|---|---|---|
| Valencia County, New Mexico Fair Market Rent | $828 | $1,005 | $1,222 | $1,722 | $2,064 |
| Valencia County, New Mexico Payment Standard Range | $745 to $911 | $905 to $1,106 | $1,100 to $1,344 | $1,550 to $1,894 | $1,858 to $2,270 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Valencia County, NM Affordable Housing Snapshot
| Total Affordable Apartment Properties | 18 |
|---|---|
| Total Low Income Apartments | 539 |
| Total Housing Units with Rental Assistance | 395 |
| Percentage of Housing Units Occupied By Renters | 20.3% |
| Average Renter Household Size | 2.89 |
| Average Household Size | 2.78 |
| Median Household Income | $41,703 ±$1,617 |
| Median Rent | $756 ±$56 |
| Percentage Of Renters Overburdened | 51.38% ± 6.25pp |
| Total Population | 76,297 |
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.
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 $86,500
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 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 HUD Rental Assistance in Valencia County
| 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 Valencia County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$16,800 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Valencia County AMI may qualify for rental assistance programs that target Very Low Income households. |
$28,000 | $32,000 | $36,000 | $39,950 | $43,150 | $46,350 | $49,550 | $52,750 |
| 80% AMI Income Limits Renters earning up to 80% of the Valencia County AMI may qualify for rental assistance programs that target Low Income households. |
$44,750 | $51,150 | $57,550 | $63,900 | $69,050 | $74,150 | $79,250 | $84,350 |
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