HomeRule

Cost of homeownership in New Mexico

State averages from Census ACS, energy costs from DOE EIA, and appreciation from FHFA. County-level detail is below.

Avg home value
$169,015
Avg property tax
$993
Homeownership rate
72.3%
1yr appreciation
0.8%

Home price trend

FHFA House Price Index, quarterly.

Most expensive counties

  1. 1.Los Alamos County$412,700
  2. 2.Santa Fe County$374,200
  3. 3.Taos County$313,400
  4. 4.Sandoval County$258,100
  5. 5.Bernalillo County$247,300
  6. 6.De Baca County$219,200
  7. 7.Rio Arriba County$212,700
  8. 8.Lincoln County$195,800
  9. 9.Eddy County$188,400
  10. 10.Doña Ana County$187,400

Most affordable counties

  1. 1.McKinley County10.1%
  2. 2.Cibola County11.5%
  3. 3.Hidalgo County11.5%
  4. 4.Los Alamos County11.8%
  5. 5.Catron County11.9%
  6. 6.Rio Arriba County12.2%
  7. 7.Lea County12.6%
  8. 8.Eddy County12.8%
  9. 9.Grant County12.9%
  10. 10.Otero County13.7%
Avg electricity
15.1¢/kWh

DOE EIA residential average.

Avg annual energy cost
$1,629

Residential baseline.

Avg mortgage interest deduction
Pending

IRS SOI, state-level avg.

All counties in New Mexico

Frequently asked questions

How much does it cost to own a home in New Mexico?

Based on Census ACS, the state average home value in New Mexico is $169,015, with median annual property tax around $993. Your actual cost depends on county and property.

What is the property tax in New Mexico?

Property tax rates vary by county. New Mexico's state average sits at roughly $993 per year on a median home. See county-level pages for local rates.

How fast are home prices appreciating in New Mexico?

FHFA House Price Index data shows New Mexico appreciating 0.8% over the last year and 41.7% over the last five years.

Is homeownership high in New Mexico?

New Mexico's homeownership rate is 72.3% (Census ACS). The share of owner-occupied units varies widely across counties.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.