Rio Arriba County, NM real estate

What the numbers say

Rio Arriba County, NM real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Rio Arriba County pay a median of $1,021 a year in property taxes on a median home value of $243,700, an effective rate of about 0.42%. The New Mexico average is 0.70%, which makes Rio Arriba County the #3 lowest-tax of 33 counties in the state with published tax data.

Renters pay a median of $740 a month, and $681 for a two-bedroom. At today's prices a typical home costs about 27 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 $244,000 home here comes to about $1,515 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $65,000 a year (the median household here earns $57,155).