Looking to buy a home in the beautiful state of New Mexico, but wanting to shop on a budget? The good news is this diverse and historic state offers many affordable places to buy property. Better yet, each city has something unique to offer. Below is a list of the top five least expensive places to buy a home in New Mexico, based on median home value.
The fifth least expensive place to buy a home in New Mexico is Anthony, with a median home value of $103,800. Situated along the Chihuahuan Desert, Anthony is a suburb of El Paso with a population of just over 9,000. It’s a small town with a suburban rural mix feel, where many families reside. Being a small town on the New Mexico-Texas border, there isn’t a ton of activity in the town itself, but it’s only a 15-minute ride to El Paso.
The fourth least expensive place to buy a home in New Mexico is Grants, with a median home value of $101,900. Grants is a city in Cibola County with a population of just over 9,000. Residents get a sparse suburban feel with many areas to hike, camp, and explore. Residents love the small-town community feel and the diversity of the area. It’s a family-friendly town with good public and private schools and many community activities to partake in.
The third least expensive place to buy a home in New Mexico is Deming, with a median home value of $95,200. This city is in Luna County, and has a population just over 14,000. The town offers a sparse suburban feel with beautiful mountains to enjoy. Residents are pleased with the small community that is passed from generation to generation, holding up its own historic traditions. The area the area is attracting retirees, snowbirds, a law firm and young families looking for a small city with a southwestern lifestyle.
2. Truth or Consequences
This town is as unique as its name — and is rated the second least expensive place to buy a home in New Mexico with a median home value of $85,300. Truth or Consequences is a town in Sierra County that was named after a game show from the 1940’s. It has a population of just under 6,000 and residents get a sparse suburban feel with many restaurants, coffee shops, and parks to choose from. It’s a resort town that some describe as stepping into a time capsule, with ancient hot springs and 1980’s-style restaurants.
Rated the least expensive place to buy a home in New Mexico, Raton has a median home value of $83,700. Raton is a town in Colfax County and is rated in the top 20 best places to retire in New Mexico. It has a population of just over 6,000 and residents get a suburban rural mix feel. There are plenty of outdoor activities for residents to enjoy, along with a small downtown area.