Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the New Mexico area can be challenging. Home prices in New Mexico are now at a median cost of $199,923, lower than the the United States average of $313,691.
The average cost of rent is $961/mo in New Mexico, primarily driven by the current value of real estate in the New Mexico area. While nearly 51.70% of residents own their homes outright in New Mexico, 27.46% rent.
Housing affordability isn’t just about home prices, though. The average household income in New Mexico is $4,899 per month. Households that rent pay about 19.61% of their income on rent here. New Mexico's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the state.
Nearby States
States with Similar Populations
- Delaware: higher priced homes
- District of Columbia: higher priced homes
- Florida: higher priced homes
- Georgia: higher priced homes
- Connecticut: higher priced homes
- New Hampshire: higher priced homes
- Montana: higher priced homes
- New Jersey: higher priced homes
- New York: higher priced homes
- North Carolina: higher priced homes
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