With a rich heritage, historic adobe architecture, a vibrant arts community, and breathtaking landscapes like otherworldly White Sands National Park and the ancient cliff dwellings of Bandelier National Monument, New Mexico is a unique place to live . If you’re considering living somewhere in New Mexico, chances are you also have a budget when looking for a house or apartment. As of July, New Mexico Median Home Sales Price It’s $355,200.
Don’t worry if the price doesn’t fit your budget. Redfin has rounded up the 8 most affordable places to live in New Mexico. Best of all, they all have median home sales under $355,200. from roswell arrive crossto find out which cities made the list.
#1: Roswell
Median house price: $197,947
Median household income: $45,493
Nearest major metro: Lubbock, Texas (175 miles)
Roswell, NM Homes for Sale
Apartments for rent in Roswell, NM
With a median home sale price of $197,947, Roswell ranks No. 1 on our list of affordable places to live in New Mexico. Approximately 48,400 residents live in this medium-sized city located in the southeastern part of the state. While living in Roswell, you can stop by the Roswell Welcome sign, explore downtown Roswell, and visit one of the art museums, such as Roswell Museum or Anderson Museum of Contemporary Artor visit the Bitter Lake National Wildlife Refuge.
#2: Clovis
Median house price: $219,000
Average rent for a one-bedroom apartment: $1,063
Median household income: $52,983
Nearest major metro: Lubbock, Texas (100 miles)
Clovis, NM Homes for Sale
Clovis, NM Apartments for Rent
The second city on our list is Clovis, with about 37,600 residents. Clovis is a charming city located in the eastern part of the state, near the New Mexico and Texas borders. In Clovis you can explore Peak Park Zoovisit the Cannon Air Force Base Visitor Center, and stroll through the quaint downtown, where you’ll find local shops and markets.
#3: Hobbes
Median house price: $240,000
Average rent for a one-bedroom apartment: $1,010
Median household income: $63,804
Nearest major metro: Midland, Texas (95 miles)
Hobbs, NM Homes for Sale
Apartments for rent in Hobbs, NM
Next on our list of affordable places to live in New Mexico is Hobbs. With a median home sale price of $240,000 and a population of approximately 39,300 residents, Hobbs is a great place to call home in Eastern New Mexico. Hobbs owns Zia Park Racetrack, Lee County Events Center and Western Heritage Museum and Lee County Cowboy Hall of Fame. There’s a lot to explore in Hobbs’ charming city center, especially the local cuisine.
#4: South Valley
Median house price: $253,000
Average sales price per square foot: $185
Median household income: $44,670
Nearest major metro: Albuquerque (7 miles)
Homes for sale in South Valley, NM
Apartments for Rent in South Valley, New Mexico
Fourth on our list is the charming suburb of Albuquerque in the South Valley. The South Valley has approximately 37,600 residents and offers many unique activities. For example, you can explore the Valle de Oro National Wildlife Refuge, which has more than 570 acres of protected areas, wildlife and trails along the Rio Grande. You can also visit Gutierrez-Habel Housean adobe house dating from the 1860s.
#5: Farmington
Median house price: $265,000
Average rent for a one-bedroom apartment: $815
Median household income: $56,576
Nearest major metro: Albuquerque (185 miles)
Homes for sale in Farmington, NM
Apartments for rent in Farmington, NM
Farmington becomes the next most livable city in New Mexico. The nearest major metro station, Albuquerque, is about 185 miles away, but Durango, Colorado. While you’re staying in this city of 46,600, spend a day at Lake Farmington and visit Farmington Museum There you can learn about local history and walk along the Animas River Trail.
#6: Cross
Median house price: $300,000
Average rent for a one-bedroom apartment: $867
Median household income: $45,140
Nearest major metro: Albuquerque (225 miles)
Las Cruces, NM Homes for Sale
Las Cruces, NM Apartments for Rent
Sixth is Las Cruces, currently home to approximately 111,400 residents. The median home sale is $300,000, which is about $55,000 lower than the New Mexico median home sale. If you move to this affordable city, be sure to explore along the Rio Grande River by hiking through Mesilla Valley Bosque State Park New Mexico Farm and Ranch Heritage Museum, and sample some delicious Southwestern cuisine in the heart of the city. This is also one of them Best Places to Live in New Mexico.
#7: Albuquerque
Median house price: $350,000
Average sales price per square foot: $207
Average rent for a one-bedroom apartment: $1,152
Median household income: $56,576
Nearest major metro: Santa Fe (65 miles)
Albuquerque, NM Homes for Sale
Apartments for rent in Albuquerque, NM
Next is albuquerque. Albuquerque has approximately 564,600 residents, and be sure to explore Old Town Albuquerque, the city’s historic center, where you’ll find adobe buildings, shops, galleries, and restaurants, or visit the annual Albuquerque International Balloon Fiesta. You can also visit the Indian Pueblo Cultural Center and ride the Sandia Summit Tram to Sandia Summit, where you can enjoy city and desert views.
#8: Rio Rancho
Median house price: $350,000
Average sales price per square foot: $209
Average rent for a one-bedroom apartment: $1,242
Median household income: $78,978
Nearest major metro: Albuquerque (15 miles)
Rio Rancho, NM Homes for Sale
Apartments for rent in Rio Rancho, NM
Rio Rancho ranks last on the list of the most affordable places to live in New Mexico. This area is another popular Albuquerque suburb with a population of approximately 110,600 and a median home sales price of $350,000. Rio Rancho is conveniently located near Balloon Fiesta Park, home of the annual Albuquerque International Balloon Fiesta. The city is also home to many local restaurants and green spaces, such as the Willow Creek Trailhead and Open Space.
method: All cities must have more than 35,000 residents and have a median home sales price below New Mexico’s average median home sales price, according to the U.S. Census. Median home sales and median sales price per square foot Red Fin Information Center Average rent data for the period July 2024 rental network July 2023. U.S. Census Bureau.