Subsidized Rental Properties

Apartment homes and rental properties are called “subsidized” when the property owner receives government assistance to help pay a portion of the rent charged for each unit. This assistance allows the owner to reduce the amount of rent charged for each unit so that it does not exceed 30 percent of the household’s income after any qualifying adjustment to reduce total income. A list of subsidized apartment communities are listed by city below. 

New Mexico’s subsidized properties include rental homes for families, the elderly and individuals with a mental or physical disability. Each property can give you information that explains how each of these categories are defined.

Properties are owned and managed by a variety of entities that include housing authorities, nonprofit organizations, for-profit companies and private owners. MFA does not own or manage any properties in New Mexico.

Steps to apply for residency at a subsidized rental property: 

• Call or visit the property.
• Ask about income qualification, rental rates and availability.
• Request and complete an application. Ask if the application will be reviewed right away or if your application will be added to a waiting list.

Note: Owners may close a property’s waiting list if there are a great number of applicants – something that is not unusual for subsidized properties.

In addition to income requirements, each property will have additional criteria that must be met by potential residents. Information about the number of persons in the household, credit history, rental history and a background check will be required. Additional qualifying information may be required for specific properties.

A security deposit – not to exceed an amount equal to monthly rent – will be required at the time a rental agreement is signed. Application and/or screening fees are prohibited.