Income needed to buy a home
Luna County, NM
$50,795
a year in household income to buy the typical Luna County home with 10% down.
The monthly math
Typical home value$156,692
Down payment (10%)$15,669
Loan$141,023
Principal and interest (7.40%)$976/mo
Property tax (0.55% a year)$72/mo
Homeowners insurance (estimate)$78/mo
Mortgage insurance$59/mo
Total monthly cost$1,185/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $36,419 a year, 72% of what it takes.
In New Mexico
Luna County ranks #6 of 30 for the income a home takes, from least to most.
Easiest to afford in New Mexico
| County | Typical home | Income needed |
|---|---|---|
| Quay County | $111,921 | $36,249 |
| De Baca County | $112,013 | $36,311 |
| Hidalgo County | $112,940 | $36,329 |
| Union County | $119,082 | $37,556 |
| Roosevelt County | $150,001 | $48,915 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.