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City officials through their Housing Forward ABQ initiative have said the city is short between 13,000 and 28,000 units, and low-income communities face tougher challenges when it comes to housing ...
Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
The project's cost is an estimated $16.6 million and Housing New Mexico, otherwise known as the New Mexico Mortgage Finance Authority, is providing $14.2 million in federal Low-Income Housing Tax ...
Nearly half of the city's renters spend more than 30% of their income on housing. The average Albuquerque rent in 2024 is $1,340, according to Rent Café, while the average apartment size is 818 ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
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