Cost of Living in Chaves County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Chaves County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chaves County ranks #1,064 of 3,142 counties for affordability (top 34%)
Sourced county brief
Chaves County Median Home Value Estimated at $156,400
The median home value in Chaves County was estimated at $156,400 during the 2020-2024 period, which is below the New Mexico unweighted county mean of $192,727. For those in rental units, the median gross rent was $867 per month, compared to a state unweighted county mean of $905. The official ACS B25071 gross rent as a percentage of household income (GRAPI) was 29.2%, a figure that is 0.8 percentage points higher than the New Mexico unweighted county mean of 28.4%. Selected monthly owner costs for all owner-occupied units were $658, below the state unweighted mean of $711. Renter households in the county had a median income of $31,531. These statistics are published in the U.S. Census Bureau ACS 5-Year Estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Chaves County
Affordability Verdict
ACS B25071 estimates median gross rent at 29.2% of renter household income in Chaves County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $867 per month; median selected monthly owner costs are $658. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $34,680 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Mexico unweighted mean of county median rents is $905 per month. Chaves County's $867 median is 4.2% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Chaves County
Rent Burden
19.7%
of gross income
Max Housing (28% Rule)
$1,235
per month
Owner Cost Burden
14.9%
of gross income
The median home in Chaves County may be a stretch
Median home value is $156,400. Estimated monthly cost: $1,249 vs. your max of $1,235.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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