Union County, NM real estate

What the numbers say

Union County, NM real estate at a glance

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

Homeowners in Union County pay a median of $859 a year in property taxes on a median home value of $122,700, an effective rate of about 0.70%. The New Mexico average is 0.70%, which makes Union County the #28 lowest-tax of 33 counties in the state with published tax data.

Renters pay a median of $683 a month, and $661 for a two-bedroom. At today's prices a typical home costs about 15 times a year's rent, which generally favors buying.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $123,000 home here comes to about $792 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $34,000 a year (the median household here earns $46,694).