Typical Cost of a House in New Mexico
On this page
The median home value in New Mexico is $248,100, measured over 2020–2024. That is 25.4% below the U.S. median of $332,700. Half of owner-occupied homes are valued above that figure and half below.
Median home value
$248,100
2020–2024, give or take $1,957
Against the U.S. median
−25.4%
BelowU.S. $332,700
Rank among states
37th highest
of 51, counting the District of Columbia
Monthly housing costs in New Mexico
What households actually pay each month, for those who own with a mortgage and those who rent.
Owning with a mortgage
$1,564a month
−20.3%U.S. $1,963
Median of mortgage payments, property taxes, insurance, utilities and fees together.
Renting
$1,067a month
−24.5%U.S. $1,413
Median gross rent: the rent itself plus utilities the renter pays.
Where New Mexico sits among the states
Each tick is one state's median home value. The highlighted band holds the middle half of them, and the dark line is the median.
Home values by county in New Mexico
33 counties, each compared with the New Mexico median.
- Bernalillo County+18.1%$292,900
- Catron County−32.7%$167,000
- Chaves County−37.0%$156,400
- Cibola County−49.5%$125,400
- Colfax County−32.6%$167,200
- Curry County−31.0%$171,200
- De Baca County−24.4%$187,500
- Doña Ana County−11.0%$220,800
- Eddy County−14.3%$212,600
- Grant County−29.2%$175,600
- Guadalupe County−55.7%$110,000
- Harding County−71.8%$70,000
- Hidalgo County−55.3%$111,000
- Lea County−25.8%$184,000
- Lincoln County−6.0%$233,200
- Los Alamos County+99.8%$495,800
- Luna County−48.4%$128,000
- McKinley County−68.3%$78,700
- Mora County−50.6%$122,600
- Otero County−34.4%$162,700
- Quay County−64.9%$87,200
- Rio Arriba County−1.8%$243,700
- Roosevelt County−45.3%$135,800
- San Juan County−21.9%$193,800
- San Miguel County−24.0%$188,500
- Sandoval County+26.5%$313,800
- Santa Fe County+79.9%$446,300
- Sierra County−38.5%$152,600
- Socorro County−44.6%$137,500
- Taos County+54.3%$382,800
- Torrance County−35.6%$159,700
- Union County−50.5%$122,700
- Valencia County−10.1%$223,000
What this figure is
It is not a sale price. The Census Bureau asks homeowners what they think their home would sell for, and this is the middle answer for owner-occupied homes in New Mexico. It covers every kind of home people own and live in, from condos to large houses, so the price of a particular house on the market can be far from it.
The figure describes the whole of 2020–2024, not a single year, and it is not adjusted for price changes since then. A survey always carries some uncertainty: the true value is very likely within $1,957 of the one shown.
Common questions
How much does a house cost in New Mexico?
- The median home value in New Mexico is $248,100, from Census Bureau survey data for 2020–2024. Half of owner-occupied homes are valued above that and half below.
What is the average home price in New Mexico?
- The Census Bureau publishes a median rather than an average: $248,100 for 2020–2024. It is what owners estimate their homes would sell for, not a record of recent sale prices.
How much is a monthly mortgage payment in New Mexico?
- Homeowners with a mortgage in New Mexico pay a median of $1,564 a month. That covers the mortgage payment together with property taxes, insurance and utilities.
What is the average rent in New Mexico?
- Median gross rent in New Mexico is $1,067 a month for 2020–2024. Gross rent is the rent itself plus the utilities the renter pays.
Are homes in New Mexico expensive compared with other places?
- New Mexico has the 37th highest median home value of 51 states, 25.4% below the U.S. median of $332,700.
Source
U.S. Census Bureau
American Community Survey 5-Year Estimates, 2020–2024, tables B25077, B25064 and B25088. Retrieved on October 6, 2026.
About the American Community SurveySource: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2020–2024.
Home values in other states
The percentage compares each state with the U.S. median.
- Alabama−36.9%$209,900
- Alaska+6.1%$352,900
- Arizona+18.6%$394,500
- Arkansas−43.5%$188,000
- California+120.8%$734,700
- Colorado+62.1%$539,400
- Connecticut+10.3%$366,900
- Delaware+5.8%$352,000
- District of Columbia+121.6%$737,100
- Florida+7.9%$359,000
- Georgia−8.8%$303,300
- Hawaii+152.2%$839,100
- Idaho+25.8%$418,600
- Illinois−20.9%$263,300
- Indiana−34.4%$218,200
- Iowa−37.5%$208,000
- Kansas−34.7%$217,200
- Kentucky−38.2%$205,600
- Louisiana−34.9%$216,500
- Maine−10.9%$296,600
- Maryland+26.2%$419,900
- Massachusetts+69.0%$562,100
- Michigan−30.4%$231,600
- Minnesota−1.0%$329,300
- Mississippi−49.0%$169,800
- Missouri−30.8%$230,300
- Montana+13.0%$375,800
- Nebraska−28.3%$238,600
- Nevada+30.9%$435,400
- New Hampshire+21.0%$402,500
- New Jersey+36.6%$454,400
- New York+27.4%$423,800
- North Carolina−13.2%$288,900
- North Dakota−24.9%$249,900
- Ohio−35.4%$214,800
- Oklahoma−39.9%$199,800
- Oregon+43.6%$477,600
- Pennsylvania−23.5%$254,500
- Rhode Island+21.5%$404,200
- South Carolina−22.2%$259,000
- South Dakota−22.6%$257,400
- Tennessee−13.8%$286,700
- Texas−14.7%$283,800
- Utah+47.1%$489,400
- Vermont−4.8%$316,600
- Virginia+15.3%$383,700
- Washington+69.7%$564,600
- West Virginia−51.1%$162,600
- Wisconsin−19.9%$266,500
- Wyoming−6.9%$309,700