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Affordable
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These days, finding an affordable place to live in the Otis area can be challenging. Home prices in Otis are now at a median cost of $334,690, higher than the New Mexico average of $265,486.
The average cost of rent is $1,542/mo in Otis, primarily driven by the current value of real estate in the Otis area. In Otis, 21.39% of households rent, and 43.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Otis is $10,594 per month. Households that rent pay about 14.56% of their income on rent here. Otis’s most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Carlsbad, NM: less expensive homes
- La Huerta, NM: higher priced homes
- Loving, NM: less expensive homes
- Carlsbad North, NM: equally priced homes
- West Carlsbad, NM: less expensive homes
- Malaga, NM: less expensive homes
- Oil Center, NM: less expensive homes
- Eunice, NM: less expensive homes
- Frankel City, TX: equally priced homes
- Andrews, TX: less expensive homes
Cities with Similar Populations
- Rheems, PA: less expensive homes
- Meadow Bridge, WV: less expensive homes
- Merrill, IA: less expensive homes
- Middletown Springs, VT: less expensive homes
- Mount Blanchard, OH: less expensive homes
- Mount Desert, ME: higher priced homes
- Muldraugh, KY: less expensive homes
- Olivehill, TN: less expensive homes
- Orangeville, UT: less expensive homes
- Mc Millan, MI: less expensive homes
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