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 | Curry County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,092 | $197,886 | $242,182 |
| Price Trend (Annual %) | -1.7% | 3.1% | 8.2% |
| Median Gross Rent | $986 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 2.8% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Curry County is about 23% lower than in New Mexico. Rent is about 3% lower than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Curry County: home prices fell about 1.7% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
Median rent in Curry County rose about 25.6% between 2015 and 2023, from $785 to $986. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Curry County.
Buying the median-priced home in Curry County costs roughly 12.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Curry County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | Curry County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,092 | $197,886 | $242,182 |
| Median Household Income | $56,597 | $62,378 | $78,145 |
| Price-to-Income Ratio | 2.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Curry County fell about 16.1%, while median household income rose about 53.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Curry County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.2% | 60.2% | 58.2% |
| Rental Rate | 33.7% | 26.6% | 31.3% |
| Vacancy Rate | 13.1% | 13.1% | 10.6% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Curry County has a homeownership rate of 53.2%, lower than the New Mexico average of 60.2%. Its housing vacancy rate is 13.1%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | Curry County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1977 | 1983 | 1978 |
| Median Number of Rooms | 5.4 | 5.3 | 5.5 |
The typical housing unit in Curry County was built around 1977. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Curry County, New Mexico.
What is the median home price in Curry County, New Mexico?
The median home price in Curry County, New Mexico is $153,092, lower than the New Mexico average of $197,886.
What is the average home price in Curry 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 Curry County, New Mexico?
The median gross rent in Curry County, New Mexico is $986 per month, lower than the New Mexico average of $1,020.
What was the median gross rent in Curry County in 2020?
In 2020, the median gross rent in Curry County, New Mexico was $892 per month.
What is the price-to-rent ratio in Curry County, New Mexico?
The price-to-rent ratio in Curry County, New Mexico is about 12.9, meaning it would take roughly 12.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Curry County.
Are home prices or rent rising faster in Curry County, New Mexico?
Home prices and rent are moving in opposite directions in Curry County: home prices fell about 1.7% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Curry County, New Mexico?
53.2% of households in Curry County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in Curry County, New Mexico?
The housing vacancy rate in Curry County, New Mexico is 13.1%, about the same as the New Mexico average.