About This Property
Ladera Courts is a 60-unit affordable housing community in Ruidoso Downs, New Mexico, with 45 units designated for low-income households. The property, which opened in 2002, offers a mix of one-, two-, and three-bedroom floor plans and is financed through the 9% Low-Income Housing Tax Credit program. A non-profit entity owns and manages the community.
Property Details
HUD Inspection Score
HUD inspects properties on a 0-100 scale. Scores above 60 are considered passing.
Fair Market Rent - Lincoln County, NM
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $627 |
| 1 Bedroom | $667 |
| 2 Bedroom | $877 |
| 3 Bedroom | $1,156 |
| 4 Bedroom | $1,488 |
Income Limits - Lincoln County, NM
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,900
- Low (80%)
- $33,450
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,900
- Low (80%)
- $38,200
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,900
- Low (80%)
- $43,000
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,850
- Low (80%)
- $47,750
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $32,250
- Low (80%)
- $51,600
- Extremely Low (30%)
- $34,650
- Very Low (50%)
- $34,650
- Low (80%)
- $55,400
- Extremely Low (30%)
- $37,050
- Very Low (50%)
- $37,050
- Low (80%)
- $59,250
- Extremely Low (30%)
- $39,450
- Very Low (50%)
- $39,450
- Low (80%)
- $63,050
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,900 | $33,450 |
| 2 Persons | $17,420 | $23,900 | $38,200 |
| 3 Persons | $21,960 | $26,900 | $43,000 |
| 4 Persons | $26,500 | $29,850 | $47,750 |
| 5 Persons | $31,040 | $32,250 | $51,600 |
| 6 Persons | $34,650 | $34,650 | $55,400 |
| 7 Persons | $37,050 | $37,050 | $59,250 |
| 8 Persons | $39,450 | $39,450 | $63,050 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Ruidoso Downs, NM?+
The Fair Market Rent (FMR) for Lincoln County, NM is: $627 (Studio), $667 (1BR), $877 (2BR), $1156 (3BR), $1488 (4BR). Actual rent at subsidized properties like Ladera Courts is typically 30% of household income or less.
What size apartments are available at Ladera Courts?+
Ladera Courts offers the following unit types: 11 One-Bedroom, 33 Two-Bedroom, 16 Three-Bedroom units, for a total of 60 units.
What are the income limits for affordable housing in Lincoln County, NM?+
For a 4-person household in Lincoln County, NM, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,850, Low Income (80% AMI): $47,750. These limits are set by HUD and updated annually.
How do I apply for housing at Ladera Courts?+
Ladera Courts is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What is the price range for apartments in Ruidoso Downs, NM?+
Based on Fair Market Rent for Lincoln County, the estimated price range is: 1-bedroom: $667, 2-bedroom: $877, 3-bedroom: $1156. Actual rent at Ladera Courts may be lower for income-eligible households.
Who manages Ladera Courts?+
Ladera Courts is managed by . You can reach them at .
What is the HUD inspection score for Ladera Courts?+
Ladera Courts has a HUD inspection score of 87 out of 100, which is considered good. HUD inspects subsidized housing properties to ensure they meet minimum health and safety standards. Scores of 60 or above are considered passing.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.