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 | Cibola County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $156,538 | $197,886 | $242,182 |
| Price Trend (Annual %) | 15.1% | 3.1% | 8.2% |
| Median Gross Rent | $724 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cibola County is about 21% lower than in New Mexico. Rent is about 29% 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 Cibola County, up about 15.1% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Cibola County rose about 22.0% between 2015 and 2023, from $593 to $724. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Cibola County.
Buying the median-priced home in Cibola County costs roughly 18.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cibola County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | Cibola County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $156,538 | $197,886 | $242,182 |
| Median Household Income | $51,838 | $62,378 | $78,145 |
| Price-to-Income Ratio | 3.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cibola County rose about 95.7%, while median household income rose about 42.7% 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 | Cibola County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.7% | 60.2% | 58.2% |
| Rental Rate | 22.1% | 26.6% | 31.3% |
| Vacancy Rate | 25.2% | 13.1% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Cibola County has a homeownership rate of 52.7%, lower than the New Mexico average of 60.2%. Its housing vacancy rate is 25.2%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | Cibola County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.05 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1979 | 1983 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Cibola County was built around 1979. On average, 3.0 people live in a home with about 5.2 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cibola County, New Mexico.
What is the median home price in Cibola County, New Mexico?
The median home price in Cibola County, New Mexico is $156,538, lower than the New Mexico average of $197,886.
What is the average home price in Cibola 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 Cibola County, New Mexico?
The median gross rent in Cibola County, New Mexico is $724 per month, lower than the New Mexico average of $1,020.
What was the median gross rent in Cibola County in 2020?
In 2020, the median gross rent in Cibola County, New Mexico was $675 per month.
What is the price-to-rent ratio in Cibola County, New Mexico?
The price-to-rent ratio in Cibola County, New Mexico is about 18.0, meaning it would take roughly 18.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cibola County.
Are home prices or rent rising faster in Cibola County, New Mexico?
Both home prices and rent are rising in Cibola County, up about 15.1% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cibola County, New Mexico?
52.7% of households in Cibola County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in Cibola County, New Mexico?
The housing vacancy rate in Cibola County, New Mexico is 25.2%, higher than the New Mexico average of 13.1%.