Affordable housing in Hobbs, explained
Income-based apartments in Hobbs, in plain words.
Oil-country paychecks can rise and fall with the rig count, but rent should not. Affordable, income-based, income-restricted, tax-credit: the labels change, and at La Pradera they all mean the same thing. Rents stay below market for households that qualify.
What "affordable" means at La Pradera
La Pradera takes part in the federal affordable-housing tax-credit program. In exchange, all 60 homes rent below the market rate, with caps set by the program. There is no separate affordable section and no lottery: every floor plan is priced the same way for everyone who qualifies. Rent is a fixed amount by home, not a percentage of what you earn.
Who qualifies
Eligibility rests on two numbers: your household's combined income and how many people live with you. Income must fall under limits HUD publishes each year for Lea County, and the limits rise with household size, so a household of five has more room than a single renter. One quick call with a rough idea of your monthly income is usually enough to know where you stand, and applying is straightforward from there.
Housing Choice Vouchers are welcome
You do not need a Section 8 voucher to live at La Pradera, because rents are already set below market for every home. If your household does have a Housing Choice Voucher, it is welcome here, and the office will gladly walk you through how the voucher and the tax-credit program work together.
What it costs
Current program rents: $519 per month for a one bedroom, $982 for a two bedroom, and $913 to $1,121 for a three bedroom, depending on your household's income tier. Program rents adjust from time to time, so call the office to confirm today's exact rate and check availability while you are on the line.
Common questions about qualifying
Who can live at La Pradera?
Everyone is welcome to apply. La Pradera is an affordable community, so eligibility comes down to household income and household size, nothing else. One quick call and we can usually tell you whether your household qualifies.
What are the income limits?
Household income must fall below limits that HUD sets each year for Lea County. The limits rise with household size and change annually, so the surest way to know is to call with a rough idea of your monthly income. Many working households in Hobbs are surprised to learn they qualify.
How much is the rent?
Current program rents are $519 per month for a one bedroom, $982 for a two bedroom, and $913 to $1,121 for a three bedroom, depending on your household's income tier. Rent is a fixed amount, not a percentage of what you earn. Program rents adjust from time to time, so please call to confirm today's exact rate and availability.
Affordable Apartments · Hobbs, New Mexico
Come see it for yourself.
The best way to know if La Pradera feels like home is to visit. Call us and we will answer your questions and set up a tour.