Luna County, New Mexico Housing Market Prices
Luna 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 5% below the New Mexico median$193,882
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Median rent 39% below the New Mexico median Among the top 3 cheapest counties in New Mexico$649
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Luna County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,882 | $204,122 | $248,835 |
| Price Trend (Annual %) | 20.0% | 3.1% | 7.5% |
| Median Gross Rent | $649 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 2.0% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Luna County is about 5% lower than in New Mexico. Rent is about 39% 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 Luna County, up about 20.0% and 2.0% a year respectively. Home prices are changing faster.
Median rent in Luna County rose about 17.7% between 2015 and 2024, from $551 to $649. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Luna County.
Buying the median-priced home in Luna County costs roughly 24.9 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 Luna County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Luna County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,882 | $204,122 | $248,835 |
| Median Household Income | $36,669 | $64,523 | $80,455 |
| Price-to-Income Ratio | 5.3 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Luna County rose about 45.8%, while median household income rose about 33.7% 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 | Luna County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.3% | 61.3% | 58.5% |
| Rental Rate | 23.1% | 26.2% | 31.2% |
| Vacancy Rate | 20.6% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Luna County has a homeownership rate of 56.3%, lower than the New Mexico average of 61.3%. Its housing vacancy rate is 20.6%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Luna County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1980 | 1983 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in Luna County was built around 1980. On average, 2.7 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Luna County, NM Housing Compared With Nearby Counties
Luna County, NM is the 4th largest of the 5 counties compared here, 25,611 residents against a local median of 126,018. The measure that sets Luna County, NM apart most is median rent: $649, 26% below the local median of $879.
The counties themselves spread $350 on median rent, so Luna County, NM sits at one end of an already wide local range rather than apart from it. Luna County, NM has the 5th highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Luna County, NM | 25,611 | $193,882 #4/5 | $649 #5/5 | 70.9% #3/5 |
| Grant County, NM | 27,774 | $317,477 | $824 | 75.8% |
| Doña Ana County, NM | 224,261 | $171,025 | $934 | 65.5% |
| Sierra County, NM | 11,501 | $222,914 | $729 | 71.8% |
| El Paso County, TX | 870,506 | $216,908 | $1,079 | 64.2% |
Frequently Asked Questions
Common questions about the housing market in Luna County, New Mexico.
What is the median home price in Luna County, New Mexico?
The median home price in Luna County, New Mexico is $193,882, lower than the New Mexico average of $204,122.
What is the average home price in Luna County, New Mexico?
The typical home price in Luna County, New Mexico, reported as the median sale price, is $193,882. 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 Luna County, New Mexico?
The median gross rent in Luna County, New Mexico is $649 per month, lower than the New Mexico average of $1,067.
What was the median gross rent in Luna County in 2020?
In 2020, the median gross rent in Luna County, New Mexico was $544 per month.
What is the price-to-rent ratio in Luna County, New Mexico?
The price-to-rent ratio in Luna County, New Mexico is about 24.9, meaning it would take roughly 24.9 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 Luna County.
Are home prices or rent rising faster in Luna County, New Mexico?
Both home prices and rent are rising in Luna County, up about 20.0% and 2.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Luna County, New Mexico?
56.3% of households in Luna County, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Luna County, New Mexico?
The housing vacancy rate in Luna County, New Mexico is 20.6%, higher than the New Mexico average of 12.5%.
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