Property tax rate
0.70%Median bill $1,731/yr · CensusMedian rent
$1,0672-bed $1,062Per month · CensusDays on market
80 days▲ 5 days vs last yearSeptember 2026 · Realtor.comWhat the numbers say
New Mexico real estate at a glance
By AstroCore · Realtor.com, US Census and Freddie Mac data
In September 2026, the median home in New Mexico listed for $399,475, down 0.1% from a year earlier.
Homes spent a median of 80 days on the market, slower than 75 days a year ago.
Homeowners in New Mexico pay a median of $1,731 a year in property taxes on a median home value of $248,100, an effective rate of about 0.70%.
Renters pay a median of $1,067 a month, and $1,062 for a two-bedroom. At today's prices a typical home costs about 31 times a year's rent, which generally favors renting over buying in the short term.
With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $399,000 home here comes to about $2,577 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $110,000 a year (the median household here earns $64,059).
Monthly payment on a typical home
$2,577/mo- Principal & interest$2,178
- Property tax$232
- Insurance (est.)$166
$399,000 home · 20% down · 7.24% 30-year fixed
Run your own numbersRents in New Mexico by bedrooms
Studio$830
1 bedroom$887
2 bedrooms$1,062
3 bedrooms$1,281
4 bedrooms$1,507
Median gross rent (rent plus utilities), US Census American Community Survey 2024 5-year estimates.
County by county
Every New Mexico county compared
Lowest property tax rates
- Taos County0.29%
- Catron County0.36%
- Rio Arriba County0.42%
- Harding County0.44%
- Torrance County0.45%
Fastest-selling counties
- Lea County48 days
- San Juan County52 days
- Bernalillo County63 days
- Chaves County63 days
- Curry County68 days
| County | Median list price | Days on market | Property tax | Median rent |
|---|---|---|---|---|
| Bernalillo County | $404,500 | 63 | 0.90% | $1,144 |
| Catron County | – | – | 0.36% | $736 |
| Chaves County | $240,000 | 63 | 0.60% | $867 |
| Cibola County | – | – | 0.80% | $759 |
| Colfax County | – | – | 0.52% | $729 |
| Curry County | $240,000 | 68 | 0.59% | $1,024 |
| De Baca County | – | – | 0.60% | $387 |
| Doña Ana County | $366,475 | 93 | 0.67% | $934 |
| Eddy County | $305,000 | 84 | 0.52% | $1,245 |
| Grant County | – | – | 0.46% | $825 |
| Guadalupe County | – | – | 0.48% | $590 |
| Harding County | – | – | 0.44% | $1,038 |
| Hidalgo County | – | – | 0.48% | $814 |
| Lea County | $328,725 | 48 | 0.48% | $1,101 |
| Lincoln County | – | – | 0.53% | $956 |
| Los Alamos County | – | – | 0.55% | $1,375 |
| Luna County | – | – | 0.54% | $650 |
| McKinley County | $299,000 | 79 | 2.00% | $859 |
| Mora County | – | – | 0.72% | $887 |
| Otero County | $313,488 | 83 | 0.55% | $962 |
| Quay County | – | – | 0.61% | $712 |
| Rio Arriba County | – | – | 0.42% | $740 |
| Roosevelt County | – | – | 0.45% | $898 |
| San Juan County | $393,250 | 52 | 0.68% | $956 |
| San Miguel County | – | – | 0.57% | $823 |
| Sandoval County | $444,250 | 72 | 0.73% | $1,427 |
| Santa Fe County | $776,500 | 81 | 0.48% | $1,389 |
| Sierra County | – | – | 0.52% | $729 |
| Socorro County | – | – | 0.61% | $691 |
| Taos County | – | – | 0.29% | $1,034 |
| Torrance County | – | – | 0.45% | $872 |
| Union County | – | – | 0.70% | $683 |
| Valencia County | $356,475 | 82 | 0.62% | $1,015 |
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Sources: Realtor.com housing inventory (monthly) and Freddie Mac Primary Mortgage Market Survey (weekly), via FRED, Federal Reserve Bank of St. Louis; US Census Bureau American Community Survey 5-year estimates (property taxes, home values, rents, income). Insurance is an estimate. Medians for the whole state; individual homes vary. For information only.