Housing decision brief
Torrance County, NM Housing Market
Torrance County screens as a below-state purchase price, rent that needs comparison, a manageable 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.
14th lowest home value out of 33 New Mexico counties with data | 19th lowest rent out of 33
Median home value
$145,100
Purchase-price signal from Census ACS.
Median rent
$845/mo
Gross rent, including utilities where reported.
Monthly owner cost
$599/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.1x
Median home value divided by local household income.
Rent burden
24.0%
Below 30% usually screens as less pressured.
Rent vs own
$246/mo
Median owner cost screens below median rent.
Data confidence
2 notes
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$145,100 median home value is 10% below New Mexico county median
Rent burden below pressure line
24.00% of renter income goes to rent, below the 30% burden threshold.
Owning screens cheaper than renting
Median owner costs are $246/mo below median rent before individual mortgage terms.
What to Check
Lower income base
$46,250 median income is 11% below New Mexico county median
Water quality cross-check
Water quality grade is F. Review water data before treating housing cost as the full story.
Health context
Health score is 31.3 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
- Renters trying to keep rent below the burden threshold
- Households weighing ownership against renting
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Buyers who will not investigate local water systems before moving
- 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 Torrance 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. | $145,100 | $160,800 | $281,900 | 10% favorable10% below New Mexico county median |
Median gross rent Lower usually helps affordability. | $845 | $810 | $1,163 | Near state median4% above New Mexico county median |
Monthly owner cost Lower usually helps affordability. | $599 | $628 | $1,672 | 5% favorable5% below New Mexico county median |
Median household income | $46,250 | $51,765 | $74,755 | 11% pressure11% below New Mexico county median |
Effective property-tax rate Lower usually helps affordability. | 0.47% | 0.55% | 1.02% | 16% favorable16% below New Mexico county median |
Rent burden Lower usually helps affordability. | 24.00% | 29.00% | N/A | 17% favorable24.00% 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
+$12,450
Median income minus rent threshold.
Owner cushion
+$20,579
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
Torrance County is affordable for renters, with a median gross rent of $845/month representing approximately 21.9% of median household income. The rent burden (GRAPI) stands at 24.0%.
Rent vs own
The median rent in Torrance County is $845/month, while owner costs run $599/month. Owning saves approximately $246/month.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,800/year. For owner costs at the 28% rule, the required income is roughly $25,671/year. With a median household income of $46,250, most households can comfortably afford rent here. Notably, 24.0% of renter households in Torrance County are cost-burdened, spending more than 30% of income on housing.
Regional context
Within New Mexico, Torrance County is less affordable than Doña Ana County by roughly 6% ($845/mo vs $903/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 |
|---|---|---|---|
| Chaves County, NM | $141,900 | $838/mo | Same-state comparison near $141,900 home value and $838/mo rent. |
| Grant County, NM | $164,400 | $810/mo | Same-state comparison near $164,400 home value and $810/mo rent. |
| Roosevelt County, NM | $136,000 | $863/mo | Same-state comparison near $136,000 home value and $863/mo rent. |
| Otero County, NM | $149,500 | $926/mo | Same-state comparison near $149,500 home value and $926/mo rent. |
| Socorro County, NM | $143,200 | $653/mo | Same-state comparison near $143,200 home value and $653/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
- Water-quality monitoring is based on 1 active site in recent WQP data.
Next Checks
Housing Questions for Torrance County
Is Torrance County affordable for buying a home?
Is renting or owning cheaper in Torrance County?
How much income do you need for housing in Torrance County?
What should I double-check before moving to Torrance County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.