Income needed to buy a home
Quay County, NM
$36,249
a year in household income to buy the typical Quay County home with 10% down.
The monthly math
Typical home value$111,921
Down payment (10%)$11,192
Loan$100,729
Principal and interest (7.40%)$697/mo
Property tax (0.54% a year)$50/mo
Homeowners insurance (estimate)$56/mo
Mortgage insurance$42/mo
Total monthly cost$846/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Within reach
The typical household here earns $41,946 a year, 16% more than it takes.
In New Mexico
Quay County ranks #1 of 30 for the income a home takes, from least to most.
Easiest to afford in New Mexico
| County | Typical home | Income needed |
|---|---|---|
| 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 |
| Luna County | $156,692 | $50,795 |
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.