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Affordable
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These days, finding an affordable place to live in the Cerro area can be challenging. Home prices in Cerro are now at a median cost of $310,528, higher than the New Mexico average of $265,486.
The average cost of rent is $676/mo in Cerro, primarily driven by the current value of real estate in the Cerro area. In Cerro, 9.21% of households rent, and 62.82% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Cerro is $4,518 per month. Households that rent pay about 14.95% of their income on rent here. Cerro’s most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Questa, NM: less expensive homes
- Amalia, NM: less expensive homes
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- Tres Piedras, NM: equally priced homes
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- La Puente, NM: less expensive homes
Cities with Similar Populations
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- Sarah Ann, WV: less expensive homes
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