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 | San Juan County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,563 | $197,886 | $242,182 |
| Price Trend (Annual %) | 3.4% | 3.1% | 8.2% |
| Median Gross Rent | $917 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in San Juan County is about 20% lower than in New Mexico. Rent is about 10% 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 San Juan County, up about 3.4% and 2.7% a year respectively. Home prices are changing faster.
Median rent in San Juan County rose about 23.3% between 2015 and 2023, from $743 to $917. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in San Juan County.
Buying the median-priced home in San Juan County costs roughly 14.4 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 San Juan County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | San Juan County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,563 | $197,886 | $242,182 |
| Median Household Income | $53,398 | $62,378 | $78,145 |
| Price-to-Income Ratio | 3.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in San Juan County rose about 20.7%, while median household income rose about 17.7% between 2009 and 2023 — 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 | San Juan County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.9% | 60.2% | 58.2% |
| Rental Rate | 25.5% | 26.6% | 31.3% |
| Vacancy Rate | 14.6% | 13.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
San Juan County has a homeownership rate of 59.9%, about the same as the New Mexico average of 60.2%. Its housing vacancy rate is 14.6%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | San Juan County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.91 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1986 | 1983 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in San Juan County was built around 1986. On average, 2.9 people live in a home with about 5.1 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in San Juan County, New Mexico.
What is the median home price in San Juan County, New Mexico?
The median home price in San Juan County, New Mexico is $158,563, lower than the New Mexico average of $197,886.
What is the average home price in San Juan 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 San Juan County, New Mexico?
The median gross rent in San Juan County, New Mexico is $917 per month, lower than the New Mexico average of $1,020.
What was the median gross rent in San Juan County in 2020?
In 2020, the median gross rent in San Juan County, New Mexico was $803 per month.
What is the price-to-rent ratio in San Juan County, New Mexico?
The price-to-rent ratio in San Juan County, New Mexico is about 14.4, meaning it would take roughly 14.4 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 San Juan County.
Are home prices or rent rising faster in San Juan County, New Mexico?
Both home prices and rent are rising in San Juan County, up about 3.4% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in San Juan County, New Mexico?
59.9% of households in San Juan County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in San Juan County, New Mexico?
The housing vacancy rate in San Juan County, New Mexico is 14.6%, higher than the New Mexico average of 13.1%.