This study assesses the National Target Program on New Rural Development’s (NRDP) impact so far on household incomes and living standards in the Vietnamese Mekong Delta (VMD). The VMD encompasses the 13 provinces of Long An, Dong Thap, Tien Giang, An Giang, Ben Tre, Vinh Long, Tra Vinh, Hau Giang, Kien Giang, Soc Trang, Bac Lieu, Can Tho and Ca Mau. Specifically, this study aims to assess factors correlated to the success of the NRDP in terms of program criteria, structural transformation, connectivity and institutional improvements; evaluate its impacts on household income and expenditure; and finally, discuss potential risks and threats to the program. Secondary data and reports such as funding sources, program criteria achieved, commune socioeconomic and demographic data are used, in addition to data from the Vietnam Household Living Standard Surveys (VHLSS) 2010, when the program began, until 2014, after the first phase of implementation. VHLSS data from 2010 to 2014 for the same households were selected and new variables were added to each household with dummy variables indicating households in NRDP and non-NRDP certified communes; dummy variables were also added for each criteria achieved by the communes. An econometric model was then estimated using the difference-in-differences (DID) technique to measure the impacts of the NRDP on household income and expenditure.