About This Property
Magdalena Hall Hotel contains 16 low-income residential units in Magdalena, NM, comprising 14 studios and two 3-bedroom apartments. The property has been in service since 1999 and operates with 4% Low-Income Housing Tax Credit financing. This Socorro County property serves households requiring affordable housing options.
Property Details
Fair Market Rent - Socorro 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 | $707 |
| 2 Bedroom | $877 |
| 3 Bedroom | $1,236 |
| 4 Bedroom | $1,488 |
Income Limits - Socorro County, NM
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $19,150
- Low (80%)
- $30,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $21,850
- Low (80%)
- $35,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $24,600
- Low (80%)
- $39,350
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $27,300
- Low (80%)
- $43,700
- Extremely Low (30%)
- $29,500
- Very Low (50%)
- $29,500
- Low (80%)
- $47,200
- Extremely Low (30%)
- $31,700
- Very Low (50%)
- $31,700
- Low (80%)
- $50,700
- Extremely Low (30%)
- $33,900
- Very Low (50%)
- $33,900
- Low (80%)
- $54,200
- Extremely Low (30%)
- $36,050
- Very Low (50%)
- $36,050
- Low (80%)
- $57,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $19,150 | $30,600 |
| 2 Persons | $17,420 | $21,850 | $35,000 |
| 3 Persons | $21,960 | $24,600 | $39,350 |
| 4 Persons | $26,500 | $27,300 | $43,700 |
| 5 Persons | $29,500 | $29,500 | $47,200 |
| 6 Persons | $31,700 | $31,700 | $50,700 |
| 7 Persons | $33,900 | $33,900 | $54,200 |
| 8 Persons | $36,050 | $36,050 | $57,700 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Magdalena, NM?+
The Fair Market Rent (FMR) for Socorro County, NM is: $627 (Studio), $707 (1BR), $877 (2BR), $1236 (3BR), $1488 (4BR). Actual rent at subsidized properties like Magdalena Hall Hotel is typically 30% of household income or less.
What size apartments are available at Magdalena Hall Hotel?+
Magdalena Hall Hotel offers the following unit types: 14 Studio, 2 Three-Bedroom units, for a total of 16 units.
Who manages Magdalena Hall Hotel?+
Magdalena Hall Hotel is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Magdalena, NM?+
Based on Fair Market Rent for Socorro County, the estimated price range is: 3-bedroom: $1236. Actual rent at Magdalena Hall Hotel may be lower for income-eligible households.
What are the income limits for affordable housing in Socorro County, NM?+
For a 4-person household in Socorro County, NM, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $27,300, Low Income (80% AMI): $43,700. These limits are set by HUD and updated annually.
How do I apply for housing at Magdalena Hall Hotel?+
Magdalena Hall Hotel is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, 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.
Contact Information
Location
Socorro County, NM
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