HOUSING INCOME TO RENT SCREENING CALCULATIONS

HB 43 requires landlords in New Mexico to adjust income screening for rental applicants by subtracting federal, state, local, or tribal housing assistance payments from the total rent before calculating the income-to-rent ratio. This means landlords must evaluate an applicant’s income against the remaining rent amount after housing assistance is applied (e.g., if rent is $1,500 and housing assistance covers $500, the screening uses $1,000). The bill specifies that valid income sources for screening include wages, pensions, alimony, or child support, provided applicants document these. It directly affects landlords performing tenant screenings and applicants receiving housing assistance, aiming to make rental eligibility more accessible for those using government aid. The bill is still pending after being postponed indefinitely on June 3, 2025.