Zillow New Mexico (2024)

FAQs

Are home prices dropping in New Mexico? ›

How much do homes in New Mexico cost? The median home price in New Mexico was $350,300 in June 2024, down 1.1% from last year.

However, if you want to move to New Mexico, you can find affordable housing in cities like Deming, Roswell, and Gallup. Cities like Portales and Clovis have a slightly expensive cost of living but provide better job opportunities.

Living in New Mexico offers a unique blend of cultural richness and natural beauty, setting it apart as a southwestern gem in the United States. Nestled among the Mountain States and sharing the iconic Four Corners region with Arizona, Colorado, and Utah, New Mexico is steeped in a deep historical tapestry.

Despite this, our IM cost of living index shows that the cost of living in New Mexico is 99.2% of the national average, making it a moderately tax-friendly and affordable retirement destination.

March to June are the best months to buy a house in New Mexico. During these months, low competition and competitive prices can get you a good deal on your future home.

Land is cheaper here for several reasons like large amounts of open land, low demand in some regions, and land not being limited by geographical barriers like oceans. For example, an acre of land may go for $500-$2,000 in rural New Mexico while costing many times more in states like California or Colorado.

$29,100 is the 25th percentile. Salaries below this are outliers. $39,700 is the 75th percentile.

Cost of Living

New Mexico and Texas are both affordable places to live compared to the national average. However, cost of living is 5% higher in Texas, where larger cities and more expensive houses contribute to higher prices in almost every category.

The safest place to live in New Mexico is Corrales. This small town is located in southern New Mexico in Sandoval County. With a population of 8,329, Corrales has a total crime rate that is 79% lower than the national average. Corrales is great for those looking for a relaxed lifestyle with plenty of natural scenery.

A western state in the American Southwest, since gaining statehood, New Mexico has voted for the winner of the popular vote in every presidential election except for 1976 (only backing the losing candidate by 2.47% and 10,271 votes) and in addition to its bellwether status is today a moderately blue state, with ...

What's the nicest part of New Mexico? ›

1. Los Alamos. Los Alamos is one of the best places to live in New Mexico. It is well-known for Los Alamos National Laboratory (LANL), one of the world's top research facilities.

The lowest temperature recorded at regular observing stations in the State was -50° F at Gavilan on February 1, 1951. An unofficial low temperature of -57° F at Ciniza on January 13, 1963, was widely reported by the press.

The cost of living in New Mexico is approximately 3% less than the national average, making it more affordable than Arizona or Colorado. New Mexico also has a relatively low state income tax.

New Mexico has become a popular retirement destination, and it's easy to see why. The state has plenty of characteristics that attract retirees, including its low cost of living, warm climate, rich culture, and many amenities. If you're considering retiring to New Mexico, we can help.

Social Security retirement benefits are taxable in New Mexico, but they are also partially deductible. The exemption is $2,500 for taxpayers under the age of 65. For persons age 65 and older, the deduction is $8,000.

Best Places to Live in New Mexico The ...

myersandmyersrealestate.com

https://myersandmyersrealestate.com

myersandmyersrealestate.com

https://myersandmyersrealestate.com

Check out the Best Places to live in New Mexico 2024. If you're considering moving here, check out this definitive list of the best cities to live in in NM!

Cost Of Living in New Mexico: How Does It ...

Movoto

https://www.movoto.com

Movoto

https://www.movoto.com

With the housing prices factored in, costs soar to 20 percent above average. Even the escalated housing cost is not a straightforward measurement. Santa Fe is h...

2024 Best Places to Live in New Mexico - Niche

Niche

https://www.niche.com

Niche

https://www.niche.com

Explore the best places to live in New Mexico based on crime, public schools, cost of living, real estate, and local amenities.

Some forecasts predict that over the next 5 years that Mexico will have an inflation rate of 16.7%. This figure translates to an average yearly increase of 3.3%. This data indicates that Mexico is expected to experience inflation, meaning that now is likely to be a good time to consider buying property.

$306,813. The average New Mexico home value is $306,813, up 4.1% over the past year and goes to pending in around 13 days.

Affordable Pricing on Raw Land

Compared to many other states, New Mexico has exceptionally affordable vacant land pricing. In fact, land values here are around 30-50% cheaper on average than neighboring states. This allows buyers to scoop up 5-10 acre parcels for well under $50,000 in many rural counties.