Grant County, New Mexico Housing Market Prices
Grant 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 56% above the New Mexico median Among the 5 most expensive counties in New Mexico$317,477
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Median rent 23% below the New Mexico median$824
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Grant County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $317,477 | $204,122 | $248,835 |
| Price Trend (Annual %) | 30.4% | 3.1% | 7.5% |
| Median Gross Rent | $824 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grant County is about 56% higher than in New Mexico. Rent is about 23% lower 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 Grant County, up about 30.4% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Grant County rose about 30.0% between 2015 and 2024, from $634 to $824. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 7.1 yearly household incomes in Grant County.
Buying the median-priced home in Grant County costs roughly 32.1 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 Grant County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Grant County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $317,477 | $204,122 | $248,835 |
| Median Household Income | $44,960 | $64,523 | $80,455 |
| Price-to-Income Ratio | 7.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Grant County rose about 273.9%, while median household income rose about 16.3% 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 | Grant County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.0% | 61.3% | 58.5% |
| Rental Rate | 18.5% | 26.2% | 31.2% |
| Vacancy Rate | 23.4% | 12.5% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Grant County has a homeownership rate of 58.0%, lower than the New Mexico average of 61.3%. Its housing vacancy rate is 23.4%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Grant County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1977 | 1983 | 1978 |
| Median Number of Rooms | 5.5 | 5.3 | 5.5 |
The typical housing unit in Grant County was built around 1977. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 15.0 years on average.
Grant County, NM Housing Compared With Nearby Counties
How Grant County, NM compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Grant County, NM | 27,774 | $317,477 #1/3 | $824 #1/3 | 75.8% #1/3 |
| Luna County, NM | 25,611 | $193,882 | $649 | 70.9% |
| Sierra County, NM | 11,501 | $222,914 | $729 | 71.8% |
Frequently Asked Questions
Common questions about the housing market in Grant County, New Mexico.
What is the median home price in Grant County, New Mexico?
The median home price in Grant County, New Mexico is $317,477, higher than the New Mexico average of $204,122.
What is the average home price in Grant County, New Mexico?
The typical home price in Grant County, New Mexico, reported as the median sale price, is $317,477. 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 Grant County, New Mexico?
The median gross rent in Grant County, New Mexico is $824 per month, lower than the New Mexico average of $1,067.
What was the median gross rent in Grant County in 2020?
In 2020, the median gross rent in Grant County, New Mexico was $690 per month.
What is the price-to-rent ratio in Grant County, New Mexico?
The price-to-rent ratio in Grant County, New Mexico is about 32.1, meaning it would take roughly 32.1 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 Grant County.
Are home prices or rent rising faster in Grant County, New Mexico?
Both home prices and rent are rising in Grant County, up about 30.4% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grant County, New Mexico?
58.0% of households in Grant County, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Grant County, New Mexico?
The housing vacancy rate in Grant County, New Mexico is 23.4%, higher than the New Mexico average of 12.5%.
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