Housing decision brief
Chaves County, NM Housing Market
Chaves County screens as a below-state purchase price, rent that needs comparison, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
11th lowest home value out of 33 New Mexico counties with data | 18th lowest rent out of 33
Median home value
$141,900
Purchase-price signal from Census ACS.
Median rent
$838/mo
Gross rent, including utilities where reported.
Monthly owner cost
$660/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
2.7x
Median home value divided by local household income.
Rent burden
27.0%
Below 30% usually screens as less pressured.
Rent vs own
$178/mo
Median owner cost screens below median rent.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$141,900 median home value is 12% below New Mexico county median
Rent burden below pressure line
27.00% of renter income goes to rent, below the 30% burden threshold.
Owning screens cheaper than renting
Median owner costs are $178/mo below median rent before individual mortgage terms.
What to Check
Tax rate needs attention
0.64% effective property-tax rate is 17% above New Mexico county median
Health context
Health score is 26.1 out of 100, so affordability should be weighed against local health indicators.
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Buyers comparing homes to local incomes
- Households weighing ownership against renting
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Chaves County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $141,900 | $160,800 | $281,900 | 12% favorable12% below New Mexico county median |
Median gross rent Lower usually helps affordability. | $838 | $810 | $1,163 | Near state median3% above New Mexico county median |
Monthly owner cost Lower usually helps affordability. | $660 | $628 | $1,672 | 5% pressure5% above New Mexico county median |
Median household income | $52,029 | $51,765 | $74,755 | Near state median1% above New Mexico county median |
Effective property-tax rate Lower usually helps affordability. | 0.64% | 0.55% | 1.02% | 17% pressure17% above New Mexico county median |
Rent burden Lower usually helps affordability. | 27.00% | 29.00% | N/A | 7% favorable27.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$18,509
Median income minus rent threshold.
Owner cushion
+$23,743
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Housing in Chaves County is affordable. The median rent is $838/month against a median household income of $52,029, putting rent at 19.3% of income.
Rent vs own
At $838/month rent versus $660/month in owner costs, owning is roughly $178/month cheaper , a 21% difference.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,520/year. For owner costs at the 28% rule, the required income is roughly $28,286/year. With a median household income of $52,029, most households can comfortably afford rent here. Notably, 27.0% of renter households in Chaves County are cost-burdened, spending more than 30% of income on housing.
Regional context
Within New Mexico, Chaves County is more affordable than Mora County by roughly 7% ($838/mo vs $785/mo).
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Roosevelt County, NM | $136,000 | $863/mo | Same-state comparison near $136,000 home value and $863/mo rent. |
| Torrance County, NM | $145,100 | $845/mo | Same-state comparison near $145,100 home value and $845/mo rent. |
| Otero County, NM | $149,500 | $926/mo | Same-state comparison near $149,500 home value and $926/mo rent. |
| Mora County, NM | $119,900 | $785/mo | Same-state comparison near $119,900 home value and $785/mo rent. |
| Grant County, NM | $164,400 | $810/mo | Same-state comparison near $164,400 home value and $810/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Chaves County
Is Chaves County affordable for buying a home?
Is renting or owning cheaper in Chaves County?
How much income do you need for housing in Chaves County?
What should I double-check before moving to Chaves County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.