New Mexico is full of rugged, desert charm and a friendly atmosphere. Whether you prefer hiking desert slopes or visiting craft boutique stores, you’ll find a little bit of everything in The Land of Enchantment. If you’re ready to move to this great southwestern state, NewHomeSource has compiled a list of the ten most affordable cities to help inform your choice if you want to build a home in New Mexico.
10 Most Affordable Cities
Home Price to Income Ratio: 3.52
Average Property Tax: $571
Median Household Income: $27,079
Deming tops our list of most affordable cities in New Mexico. Located 35 miles north of the US-Mexico border, Deming is home to around 15,000 residents and is the county seat of Luna County. Want to learn more about local history? Check out the exhibits at Deming Luna Mimbres Museum.
2. Sunland Park
Home Price to Income Ratio: 4.07
Average Property Tax: $822
Median Household Income: $27,266
Sunland Park is located along the New Mexico-Texas border and the US-Mexico border. While driving across the desert, keep your eyes peeled for Mount Cristo Rey, a famous limestone monument rising nearly 30 feet. If you’re looking for entertainment, check out Sunland Park Racetrack & Casino.
3. Las Vegas
Home Price to Income Ratio: 4.43
Average Property Tax: $682
Median Household Income: $26,561
Not to be confused with the high-rolling city in Nevada, Las Vegas is the county seat of San Miguel County. The Gallinas River meanders through the center of Las Vegas, which was formerly two cities. Spend warm days at the local parks, golf courses, and recreation center.
Home Price to Income Ratio: 2.26
Average Property Tax: $537
Median Household Income: $51,620
Located in southeast New Mexico, Lovington is the county seat of Lea County. The town is packed with restaurants, shops, and even a local history museum. Chaparral Park is a popular destination for folks looking to relax; nothing like a walk around the duck pond to reduce stress.
Home Price to Income Ratio: 2.42
Average Property Tax: $704
Median Household Income: $43,372
Roswell is truly out of this world! This southeastern city is best known for being the site of a UFO crash in 1947; the local International UFO Museum and Research Center offers plenty of information about the event, as well as extraterrestrial art exhibits. Beyond UFOs, Roswell is also home to attractions such as Spring River Park and Zoo, Alien Motor Speedway, and Miniatures and Curious Collections Museum.
Home Price to Income Ratio: 2.69
Average Property Tax: $670
Median Household Income: $42,204
The Sacramento Mountains stretch along the city’s eastern border, making Alamogordo, the county seat of Otero County, an ideal location for those who want easy access to mountains. If you prefer to stay in the city, you can find entertainment at the local roller rink, commune with nature at the Alameda Park Zoo, or go antiquing.
Home Price to Income Ratio: 2.75
Average Property Tax: $2,310
Median Household Income: $48,065
Home to over 20,000 residents, Gallup is in northwest New Mexico. For a glimpse into local history and Native American culture, be sure to visit Gallup Cultural Central. Amtrack provides daily service, and for the price of a ticket, you can enjoy picturesque scenery; head east and you can view the peaks at Red Rock Park.
Home Price to Income Ratio: 3.06
Average Property Tax: $616
Median Household Income: $37,921
Portales is the seat of Roosevelt County, and the courthouse square is laden with retail shops. Enjoy local favorites like the farmers market, parks, and Lewis Cooper Rodeo Arena. Archeology fans will enjoy the Blackwater Draw Museum. Located in Eastern New Mexico University, the museum holds archeological artifacts, including ones that visitors are permitted to touch.
Home Price to Income Ratio: 5.28
Average Property Tax: $910
Median Household Income: $30,336
Española is located approximately 26 miles north of Santa Fe. The city has a rich arts culture scene, evident in the art centers and galleries sprinkled across town. Española’s cultural heritage is celebrated and protected at Northern Rio Grande National Heritage Area.
Home Price to Income Ratio: 2.91
Average Property Tax: $641
Median Household Income: $43,111
With 40,000 residents, Clovis is one of the more populated cities on our list. Challenge yourself at the local rock-climbing gym or visit the animals at Hillcrest Park Zoo. If you’re a fan of rock music, you’ll have to visit the Norman & Vi Petty Rock ‘N’ Roll Museum; it’s dedicated to 1950s and 1960s rock artists like Buddy Holly.
Cities with the Best Home Price to Income Ratio
While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.
Sarah graduated from Trinity University in 2012 with a degree in International Relations and Political Science. She writes blogs on new homes, decor, communities, and more for NewHomeSource. When she’s not writing, you can find her spending time with her three cats.