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Lea County Housing Market

New Mexico · 33 counties · Ranked #1590 in home value

Below National AvgAffordable

Housing at a Glance

Median Home Value

$176,000

vs national$176,000 vs $281,900 national

Median Gross Rent

$1,119/mo

vs national$1,119 vs $1,163 national

Effective Tax Rate

0.47%

vs national0.47% vs 1.02% national

Median Household Income

$68,750

vs national$68,750 vs $74,755 national

Affordability Ratio

2.6x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

28.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$824

Tax as % of Home Value

0.47%

Monthly Owner Cost

$699

Renter Income

$40,713

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Similar Counties by Home Value

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Frequently Asked Questions

What is the median home value in Lea County?

The median home value in Lea County is $176,000. This is below the national median of $281,900.

How much is rent in Lea County?

The median gross rent in Lea County is $1,119 per month.

What is the property tax rate in Lea County?

The effective property tax rate in Lea County is 0.47%. The median annual property tax bill is $824.

Is Lea County affordable?

With a home-value-to-income ratio of 2.6x, Lea County is considered affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.