How income-based rent works
Affordable apartments in Taos, without the jargon.
Income-based, income-restricted, tax-credit, low-income housing: Taos uses all of these words, and at Tierra Montosa they add up to one plain idea. Rents stay below market for households that qualify, in homes that were made new in 2018.
What the program means here
Tierra Montosa takes part in the federal affordable-housing tax-credit program. In exchange, all 70 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, never a percentage of what you earn.
Who qualifies
Eligibility comes down to your household. Combined income must fall under limits HUD publishes each year for Taos County, and the limits rise with household size, so a household of four has more room than a single renter. Call with a rough idea of your monthly income and we can usually tell you where you stand the same day. From there, applying is straightforward.
Housing Choice Vouchers are welcome
Tax-credit housing and Section 8 are different programs that work well together. You do not need a voucher at Tierra Montosa, because rents are already below market for every home. If your household does have a Housing Choice Voucher, it is welcome here, and the office will walk you through how the two combine.
What it costs
The current program rent for a one bedroom is $644 per month. Rents for the two and three bedroom homes depend on your household's income tier, so the office quotes those by phone. Program rents adjust from time to time; call to confirm today's exact rate and check availability in the same conversation.
Common questions about qualifying
Who can live at Tierra Montosa?
Everyone is welcome to apply. Tierra Montosa is an affordable community, so eligibility comes down to your household's income and size, nothing else. One call to the office is usually enough to know where you stand.
What are the income limits?
Household income must fall below limits that HUD sets each year for Taos County. They depend on how many people live with you and they change annually, so the surest way to know is to call with a rough idea of your monthly income. We can usually answer the same day.
How much is the rent?
The current program rent for a one bedroom is $644 per month. Rents for the two bedroom and three bedroom homes depend on your household's income tier, so please call for today's exact rates. Rent is a fixed amount, not a percentage of your income, and program rents adjust from time to time.
Affordable Apartments · Taos, New Mexico
Come see it for yourself.
The best way to know if Tierra Montosa feels like home is to visit. Call us and we will answer your questions and set up a tour.