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 | Doña Ana County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $207,647 | $197,886 | $242,182 |
| Price Trend (Annual %) | 6.0% | 3.1% | 8.2% |
| Median Gross Rent | $903 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Doña Ana County is about 5% higher than in New Mexico. Rent is about 12% 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 Doña Ana County, up about 6.0% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Doña Ana County rose about 27.3% between 2015 and 2023, from $709 to $903. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Doña Ana County.
Buying the median-priced home in Doña Ana County costs roughly 19.2 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 Doña Ana County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | Doña Ana County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $207,647 | $197,886 | $242,182 |
| Median Household Income | $55,454 | $62,378 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Doña Ana County rose about 45.6%, while median household income rose about 56.0% 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 | Doña Ana County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 60.2% | 58.2% |
| Rental Rate | 31.7% | 26.6% | 31.3% |
| Vacancy Rate | 8.6% | 13.1% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Doña Ana County has a homeownership rate of 59.7%, lower than the New Mexico average of 60.2%. Its housing vacancy rate is 8.6%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | Doña Ana County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1989 | 1983 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Doña Ana County was built around 1989. On average, 2.6 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Doña Ana County, New Mexico.
What is the median home price in Doña Ana County, New Mexico?
The median home price in Doña Ana County, New Mexico is $207,647, higher than the New Mexico average of $197,886.
What is the average home price in Doña Ana 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 Doña Ana County, New Mexico?
The median gross rent in Doña Ana County, New Mexico is $903 per month, lower than the New Mexico average of $1,020.
What was the median gross rent in Doña Ana County in 2020?
In 2020, the median gross rent in Doña Ana County, New Mexico was $764 per month.
What is the price-to-rent ratio in Doña Ana County, New Mexico?
The price-to-rent ratio in Doña Ana County, New Mexico is about 19.2, meaning it would take roughly 19.2 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 Doña Ana County.
Are home prices or rent rising faster in Doña Ana County, New Mexico?
Both home prices and rent are rising in Doña Ana County, up about 6.0% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Doña Ana County, New Mexico?
59.7% of households in Doña Ana County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in Doña Ana County, New Mexico?
The housing vacancy rate in Doña Ana County, New Mexico is 8.6%, lower than the New Mexico average of 13.1%.