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)
How Chaves County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chaves County ranks #2,817 of 3,144 counties for affordability (bottom 10%)
Data Story
About Cost of Living in Chaves County, New Mexico
Chaves balances modest incomes with affordable housing
Chaves County renters dedicate 19.3% of income to rent, nearly aligned with the national standard, though median household income of $52,029 falls 30% short of the national average of $74,755. The county's $838 median rent remains accessible even for lower-wage households.
Mid-pack affordability in New Mexico's rural corridor
Chaves ranks slightly above the state average for rent burden at 19.3% compared to New Mexico's 19.4%, with rents of $838 sitting midway between expensive metros and ultra-cheap rural counties. This Southeastern region offers moderate housing costs for those seeking a middle ground.
Chaves costs less than Bernalillo, more than rural peers
Chaves's $838 rent falls between Bernalillo's $1,087 and the cheapest rural counties like Catron ($740) and Cibola ($724). This Roswell-anchored county provides more housing supply and affordability than the state's largest metro without sacrificing all amenities.
Housing spans nearly one-fifth of Chaves incomes
Renters in Chaves spend $838 monthly while homeowners pay $660—making ownership 21% cheaper, a pattern common in rural New Mexico. At $52,029 median income, housing consumes between 15-19% of most households' annual earnings.
Chaves suits those balancing affordability and access
Chaves County offers a measured option for families wanting lower costs than Albuquerque but more services and opportunity than isolated rural counties. Consider this region if you value a small-city feel with manageable rent and a stable rental market.
Cost of Living Advisory: Chaves County
Affordability Verdict
Housing in Chaves County is affordable. The median rent is $838/month against a median household income of $52,029, putting rent at 19.3% of income.
Rent vs. Own
At $838/month rent versus $660/month in owner costs, owning is roughly $178/month cheaper — a 21% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,520/year. For owner costs at the 28% rule, the required income is roughly $28,286/year. With a median household income of $52,029, most households can comfortably afford rent here. Notably, 27.0% of renter households in Chaves County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Chaves County is more affordable than Mora County by roughly 7% ($838/mo vs $785/mo).
Affordability Calculator
See how your income compares to housing costs in Chaves County
Rent Burden
19.3%
of gross income
Max Housing (28% Rule)
$1,214
per month
Owner Cost Burden
15.2%
of gross income
You can likely afford the median home in Chaves County
Median home value is $141,900. Estimated monthly cost: $1,133 vs. your max of $1,214.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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 (2019-2023) — Informational only. Not financial or legal advice.
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