Affordable rent, explained
How income-based rent works on Jefferson Avenue.
Income-based, income-restricted, tax-credit, low-income: the labels vary, but the idea at Cottonwood Commons is simple. Every home rents below the market rate, and qualifying is a matter of household income and size.
How the program works here
Cottonwood Commons 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, no lottery, and no fine print that changes by building: every floor plan qualifies the same way. Rent is a fixed monthly amount, not a percentage of what you earn.
Who qualifies
Qualifying is about your household, nothing else. Your combined income must fall under the limits HUD publishes each year for Otero County, and the limits rise with household size, so a household of five has more room than a single renter. A quick call with a rough idea of your monthly income is usually enough for the office to tell you 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 Cottonwood Commons, because every rent is already set below market. If your household does have a Housing Choice Voucher, it is welcome here, and the office will gladly explain how the voucher and the tax-credit program work together for your budget.
What it costs
Current program rents: $554 to $723 per month for a one bedroom and from $621 for a three bedroom, depending on your household's income tier; call for current two bedroom pricing. Program rents adjust from time to time, so call the office to confirm today's exact rate and check availability in the same call.
Common questions about qualifying
Who can live at Cottonwood Commons?
Everyone is welcome to apply. Cottonwood Commons is an affordable community, so qualifying comes down to household income and size, nothing else. One call to the office is usually enough to know where your household stands.
How much is the rent?
Current program rents run from $554 to $723 per month for a one bedroom and start at $621 for a three bedroom, depending on your household's income tier. Call for current two bedroom pricing. Rents are a fixed amount, not a percentage of your income, and they adjust from time to time, so please call to confirm today's exact rate and availability.
What are the income limits?
Household income must fall below limits that HUD sets each year for Otero County. The limits scale with how many people live with you and change annually, so the surest way to know is to call with a rough idea of your monthly income. Many working households are surprised to learn they qualify.
Affordable Apartments · Alamogordo, New Mexico
Come see it for yourself.
The best way to know if Cottonwood Commons feels like home is to visit. Call us and we will answer your questions and set up a tour.