Eddy County, New Mexico Housing Market Prices
Eddy County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 31% above the New Mexico median More expensive than 81% of counties in New Mexico$266,585
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Median rent 17% above the New Mexico median Among the 5 most expensive counties in New Mexico$1,244
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Eddy County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $266,585 | $204,122 | $248,835 |
| Price Trend (Annual %) | 7.2% | 3.1% | 7.5% |
| Median Gross Rent | $1,244 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Eddy County is about 31% higher than in New Mexico. Rent is about 17% higher than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Eddy County, up about 7.2% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Eddy County rose about 62.9% between 2015 and 2024, from $763 to $1,244. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Eddy County.
Buying the median-priced home in Eddy County costs roughly 17.9 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 Eddy County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Eddy County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $266,585 | $204,122 | $248,835 |
| Median Household Income | $77,819 | $64,523 | $80,455 |
| Price-to-Income Ratio | 3.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Eddy County rose about 69.8%, while median household income rose about 65.0% between 2009 and 2025 — 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 | Eddy County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.6% | 61.3% | 58.5% |
| Rental Rate | 23.5% | 26.2% | 31.2% |
| Vacancy Rate | 12.0% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Eddy County has a homeownership rate of 64.6%, higher than the New Mexico average of 61.3%. Its housing vacancy rate is 12.0%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Eddy County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1980 | 1983 | 1978 |
| Median Number of Rooms | 5.6 | 5.3 | 5.5 |
The typical housing unit in Eddy County was built around 1980. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Eddy County, NM Housing Compared With Nearby Counties
Eddy County, NM is typical in size for this group, 61,104 residents against a local median of 64,216, so the measures below are close to a like for like comparison. Eddy County, NM's median home price, at $266,585, runs 64% above the $162,562 typical of the counties around it.
Median rent tells the same story from another angle: $1,244 against a local median of $980, 27% above it. The counties themselves sit within $41,453 of each other on median home price, a tighter band than the gap between any of them and Eddy County, NM, which makes it a genuine outlier here rather than one end of a wide local spread. Eddy County, NM has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Eddy County, NM | 61,104 | $266,585 #1/4 | $1,244 #1/4 | 73.3% #2/4 |
| Chaves County, NM | 64,216 | $194,644 | $867 | 71.3% |
| Lea County, NM | 73,733 | $162,562 | $1,101 | 71.2% |
| Reeves County, TX | 12,664 | $153,191 | $980 | 73.7% |
Frequently Asked Questions
Common questions about the housing market in Eddy County, New Mexico.
What is the median home price in Eddy County, New Mexico?
The median home price in Eddy County, New Mexico is $266,585, higher than the New Mexico average of $204,122.
What is the average home price in Eddy County, New Mexico?
The typical home price in Eddy County, New Mexico, reported as the median sale price, is $266,585. 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 Eddy County, New Mexico?
The median gross rent in Eddy County, New Mexico is $1,244 per month, higher than the New Mexico average of $1,067.
What was the median gross rent in Eddy County in 2020?
In 2020, the median gross rent in Eddy County, New Mexico was $969 per month.
What is the price-to-rent ratio in Eddy County, New Mexico?
The price-to-rent ratio in Eddy County, New Mexico is about 17.9, meaning it would take roughly 17.9 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 Eddy County.
Are home prices or rent rising faster in Eddy County, New Mexico?
Both home prices and rent are rising in Eddy County, up about 7.2% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Eddy County, New Mexico?
64.6% of households in Eddy County, New Mexico own their home, higher than the New Mexico average of 61.3%.
What is the vacancy rate in Eddy County, New Mexico?
The housing vacancy rate in Eddy County, New Mexico is 12.0%, lower than the New Mexico average of 12.5%.
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