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Counties with the lowest home prices in New Mexico

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June 8, 2021
Tony Hisgett // Wikimedia Commons

Counties with the lowest home prices in New Mexico

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in New Mexico. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in New Mexico has the lowest home prices.

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turtix // Shutterstock

#30. Sandoval County

- Monthly mortgage payment in 2020: $867 (9.8% less than 2019)
- Monthly mortgage payment in 2019: $961
- Median home value in 2020: $234,200
- Ranked #2,605 out of 3,120 counties nationwide
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M.Bucka // Wikimedia Commons

#29. Bernalillo County

- Monthly mortgage payment in 2020: $839 (9.2% less than 2019)
- Monthly mortgage payment in 2019: $924
- Median home value in 2020: $226,600
- Ranked #2,566 out of 3,120 counties nationwide
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Gestalt Imagery // Shutterstock

#28. Lincoln County

- Monthly mortgage payment in 2020: $758 (18.2% less than 2019)
- Monthly mortgage payment in 2019: $927
- Median home value in 2020: $204,800
- Ranked #2,424 out of 3,120 counties nationwide
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Peter Potrowl // Wikimedia Commons

#27. Catron County

- Monthly mortgage payment in 2020: $686 (5.5% less than 2019)
- Monthly mortgage payment in 2019: $726
- Median home value in 2020: $185,200
- Ranked #2,272 out of 3,120 counties nationwide
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Carptrash // Wikimedia Commons

#26. Rio Arriba County

- Monthly mortgage payment in 2020: $654 (11.5% less than 2019)
- Monthly mortgage payment in 2019: $739
- Median home value in 2020: $176,700
- Ranked #2,159 out of 3,120 counties nationwide
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Drmccreedy // Wikimedia Commons

#25. Valencia County

- Monthly mortgage payment in 2020: $640 (2.1% greater than 2019)
- Monthly mortgage payment in 2019: $627
- Median home value in 2020: $172,900
- Ranked #2,090 out of 3,120 counties nationwide
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David Langford // Shutterstock

#24. Doña Ana County

- Monthly mortgage payment in 2020: $619 (3.1% less than 2019)
- Monthly mortgage payment in 2019: $639
- Median home value in 2020: $167,100
- Ranked #2,025 out of 3,120 counties nationwide
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Canva

#23. Eddy County

- Monthly mortgage payment in 2020: $610 (8.3% less than 2019)
- Monthly mortgage payment in 2019: $665
- Median home value in 2020: $164,600
- Ranked #1,990 out of 3,120 counties nationwide
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#22. San Juan County

- Monthly mortgage payment in 2020: $602 (4.9% less than 2019)
- Monthly mortgage payment in 2019: $633
- Median home value in 2020: $162,600
- Ranked #1,953 out of 3,120 counties nationwide
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AllenS // Wikimedia Commons

#21. Lea County

- Monthly mortgage payment in 2020: $578 (4.0% less than 2019)
- Monthly mortgage payment in 2019: $602
- Median home value in 2020: $156,200
- Ranked #1,864 out of 3,120 counties nationwide
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KeanoManu // Wikimedia Commons

#20. San Miguel County

- Monthly mortgage payment in 2020: $528 (7.4% less than 2019)
- Monthly mortgage payment in 2019: $570
- Median home value in 2020: $142,600
- Ranked #1,648 out of 3,120 counties nationwide
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Underawesternsky // Shutterstock

#19. Grant County

- Monthly mortgage payment in 2020: $489 (13.9% less than 2019)
- Monthly mortgage payment in 2019: $568
- Median home value in 2020: $132,100
- Ranked #1,472 out of 3,120 counties nationwide
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Billy Hathorn // Wikimedia Commons

#18. Curry County

- Monthly mortgage payment in 2020: $489 (14.7% less than 2019)
- Monthly mortgage payment in 2019: $573
- Median home value in 2020: $132,000
- Ranked #1,471 out of 3,120 counties nationwide
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#17. Socorro County

- Monthly mortgage payment in 2020: $485 (11.2% greater than 2019)
- Monthly mortgage payment in 2019: $436
- Median home value in 2020: $131,100
- Ranked #1,457 out of 3,120 counties nationwide
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Kristi Blokhin // Shutterstock

#16. Otero County

- Monthly mortgage payment in 2020: $466 (8.1% less than 2019)
- Monthly mortgage payment in 2019: $507
- Median home value in 2020: $125,800
- Ranked #1,348 out of 3,120 counties nationwide
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Wordbuilder // Wikimedia Commons

#15. Roosevelt County

- Monthly mortgage payment in 2020: $462 (9.4% less than 2019)
- Monthly mortgage payment in 2019: $510
- Median home value in 2020: $124,800
- Ranked #1,330 out of 3,120 counties nationwide
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psyberartist // Wikimedia Commons

#14. Sierra County

- Monthly mortgage payment in 2020: $459 (8.6% less than 2019)
- Monthly mortgage payment in 2019: $502
- Median home value in 2020: $124,000
- Ranked #1,313 out of 3,120 counties nationwide
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AllenS // Wikimedia Commons

#13. Torrance County

- Monthly mortgage payment in 2020: $455 (8.8% less than 2019)
- Monthly mortgage payment in 2019: $499
- Median home value in 2020: $122,800
- Ranked #1,277 out of 3,120 counties nationwide
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AllenS // Wikimedia Commons

#12. Mora County

- Monthly mortgage payment in 2020: $439 (5.2% less than 2019)
- Monthly mortgage payment in 2019: $463
- Median home value in 2020: $118,600
- Ranked #1,162 out of 3,120 counties nationwide
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Wordbuilder // Wikimedia Commons

#11. De Baca County

- Monthly mortgage payment in 2020: $416 (3.0% less than 2019)
- Monthly mortgage payment in 2019: $429
- Median home value in 2020: $112,300
- Ranked #1,026 out of 3,120 counties nationwide
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Billy Hathorn // Wikimedia Commons

#10. Colfax County

- Monthly mortgage payment in 2020: $410 (14.9% less than 2019)
- Monthly mortgage payment in 2019: $482
- Median home value in 2020: $110,700
- Ranked #984 out of 3,120 counties nationwide
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Vacaypicts // Wikimedia Commons

#9. Harding County

- Monthly mortgage payment in 2020: $400 (7.5% greater than 2019)
- Monthly mortgage payment in 2019: $372
- Median home value in 2020: $108,100
- Ranked #917 out of 3,120 counties nationwide
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Cheri Alguire // Shutterstock

#8. Chaves County

- Monthly mortgage payment in 2020: $389 (26.9% less than 2019)
- Monthly mortgage payment in 2019: $532
- Median home value in 2020: $105,000
- Ranked #827 out of 3,120 counties nationwide
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Wordbuilder // Wikimedia Commons

#7. Union County

- Monthly mortgage payment in 2020: $344 (5.8% less than 2019)
- Monthly mortgage payment in 2019: $365
- Median home value in 2020: $92,900
- Ranked #534 out of 3,120 counties nationwide
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AllenS // Wikimedia Commons

#6. Luna County

- Monthly mortgage payment in 2020: $340 (10.3% less than 2019)
- Monthly mortgage payment in 2019: $379
- Median home value in 2020: $91,800
- Ranked #507 out of 3,120 counties nationwide
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Calvin Beale // Wikimedia Commons

#5. Hidalgo County

- Monthly mortgage payment in 2020: $336 (10.2% less than 2019)
- Monthly mortgage payment in 2019: $374
- Median home value in 2020: $90,800
- Ranked #478 out of 3,120 counties nationwide
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U.S. Army Corps of Engineers // Wikimedia Commons

#4. Guadalupe County

- Monthly mortgage payment in 2020: $332 (13.3% less than 2019)
- Monthly mortgage payment in 2019: $383
- Median home value in 2020: $89,800
- Ranked #445 out of 3,120 counties nationwide
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Canva

#3. Cibola County

- Monthly mortgage payment in 2020: $330 (15.2% less than 2019)
- Monthly mortgage payment in 2019: $389
- Median home value in 2020: $89,100
- Ranked #439 out of 3,120 counties nationwide
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Tony Hisgett // Wikimedia Commons

#2. Quay County

- Monthly mortgage payment in 2020: $284 (12.3% less than 2019)
- Monthly mortgage payment in 2019: $324
- Median home value in 2020: $76,800
- Ranked #172 out of 3,120 counties nationwide
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StockPhotoAstur // Shutterstock

#1. McKinley County

- Monthly mortgage payment in 2020: $224 (34.7% less than 2019)
- Monthly mortgage payment in 2019: $343
- Median home value in 2020: $60,600
- Ranked #39 out of 3,120 counties nationwide
This story originally appeared on and was produced and distributed in partnership with Stacker Studio.

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