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 | Taos County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $295,367 | $197,886 | $242,182 |
| Price Trend (Annual %) | 9.0% | 3.1% | 8.2% |
| Median Gross Rent | $1,069 | $1,020 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Taos County is about 49% higher than in New Mexico. Rent is about 5% higher 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 Taos County, up about 9.0% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Taos County rose about 46.1% between 2015 and 2023, from $732 to $1,069. Over the same span, rent in New Mexico rose about 31.4%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Taos County.
Buying the median-priced home in Taos County costs roughly 23.0 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 Taos County. The price-to-rent ratio in New Mexico is about 16.2.
| Metric | Taos County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $295,367 | $197,886 | $242,182 |
| Median Household Income | $58,119 | $62,378 | $78,145 |
| Price-to-Income Ratio | 5.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Taos County rose about 60.1%, while median household income rose about 62.2% 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 | Taos County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.0% | 60.2% | 58.2% |
| Rental Rate | 14.5% | 26.6% | 31.3% |
| Vacancy Rate | 31.4% | 13.1% | 10.6% |
| Median Tenure (years) | 21.0 | 16.0 | 15.0 |
| Median Year Moved In | 2005 | 2010 | 2011 |
Taos County has a homeownership rate of 54.0%, lower than the New Mexico average of 60.2%. Its housing vacancy rate is 31.4%, compared with 13.1% in New Mexico.
Housing Stock
| Metric | Taos County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1983 | 1983 | 1978 |
| Median Number of Rooms | 4.9 | 5.3 | 5.5 |
The typical housing unit in Taos County was built around 1983. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Taos County, New Mexico.
What is the median home price in Taos County, New Mexico?
The median home price in Taos County, New Mexico is $295,367, higher than the New Mexico average of $197,886.
What is the average home price in Taos 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 Taos County, New Mexico?
The median gross rent in Taos County, New Mexico is $1,069 per month, higher than the New Mexico average of $1,020.
What was the median gross rent in Taos County in 2020?
In 2020, the median gross rent in Taos County, New Mexico was $856 per month.
What is the price-to-rent ratio in Taos County, New Mexico?
The price-to-rent ratio in Taos County, New Mexico is about 23.0, meaning it would take roughly 23.0 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 Taos County.
Are home prices or rent rising faster in Taos County, New Mexico?
Both home prices and rent are rising in Taos County, up about 9.0% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Taos County, New Mexico?
54.0% of households in Taos County, New Mexico own their home, lower than the New Mexico average of 60.2%.
What is the vacancy rate in Taos County, New Mexico?
The housing vacancy rate in Taos County, New Mexico is 31.4%, higher than the New Mexico average of 13.1%.