Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $494,444 | $197,886 | $242,182 |
| Price Trend (Annual %) | 17.2% | 3.1% | 8.2% |
| Median Gross Rent | $739 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Catron County is about 150% higher than in New Mexico. Rent is about 28% lower than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Catron County, up about 17.2% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Catron County rose about 37.1% between 2015 and 2023, from $539 to $739. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 10.6 yearly household incomes in Catron County.
Buying the median-priced home in Catron County costs roughly 55.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Catron County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $494,444 | $197,886 | $242,182 |
| Median Household Income | $46,438 | $62,378 | $78,145 |
| Price-to-Income Ratio | 10.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Catron County rose about 114.1%, while median household income rose about 51.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.3% | 60.2% | 58.2% |
| Rental Rate | 6.1% | 26.6% | 31.3% |
| Vacancy Rate | 50.6% | 13.1% | 10.6% |
| Median Tenure (years) | 22.0 | 16.0 | 15.0 |
| Median Year Moved In | 2004 | 2010 | 2011 |
Catron County has a homeownership rate of 43.3%, lower than the New Mexico average of 60.2%. Its housing vacancy rate is 50.6%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.12 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1983 | 1978 |
| Median Number of Rooms | 4.5 | 5.3 | 5.5 |
The typical housing unit in Catron County was built around 1985. On average, 2.1 people live in a home with about 4.5 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Catron County, New Mexico.
What is the median home price in Catron County, New Mexico?
The median home price in Catron County, New Mexico is $494,444, higher than the New Mexico average of $197,886.
What is the average home price in Catron County, New Mexico?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Catron County, New Mexico?
The median gross rent in Catron County, New Mexico is $739 per month, lower than the New Mexico average of $1,020.
What was the median gross rent in Catron County in 2020?
In 2020, the median gross rent in Catron County, New Mexico was $720 per month.
What is the price-to-rent ratio in Catron County, New Mexico?
The price-to-rent ratio in Catron County, New Mexico is about 55.7, meaning it would take roughly 55.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Catron County.
Are home prices or rent rising faster in Catron County, New Mexico?
Both home prices and rent are rising in Catron County, up about 17.2% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Catron County, New Mexico?
43.3% of households in Catron County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in Catron County, New Mexico?
The housing vacancy rate in Catron County, New Mexico is 50.6%, higher than the New Mexico average of 13.1%.