Cost of Living in Eddy County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Eddy County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Eddy County ranks #2,824 of 3,144 counties for affordability (bottom 10%)
Data Story
About Cost of Living in Eddy County, New Mexico
Eddy outpaces national affordability
Eddy County renters spend 17.8% of household income on rent, well below the national sweet spot and significantly better than the state average of 19.4%. With a median household income of $79,605—6% above the national median of $74,755—residents here enjoy stronger purchasing power than most Americans.
Among New Mexico's most affordable
Eddy County ranks as one of the state's most housing-friendly markets, with a rent-to-income ratio that beats the state average of 19.4%. Median rent of $1,183 is higher than the state's $876, but incomes here are substantially stronger, making housing genuinely more accessible.
More expensive, but higher-earning
Eddy's $1,183 median rent exceeds nearby Lea County ($1,119) and Lincoln County ($883), but Eddy households also earn more—$79,605 compared to Lea's $68,750 and Lincoln's $51,643. This income advantage makes Eddy's higher rents proportionally less burdensome for residents.
Renters and owners both comfortable
Renters in Eddy spend roughly $1,183 monthly while owners pay $739, with median home values around $199,400. At a median household income of $79,605, housing costs consume only 17.8% of gross income—leaving most families breathing room in their budgets.
Relocating? Eddy offers balance
If you're comparing moves across New Mexico, Eddy County delivers solid income levels paired with manageable housing costs—neither the cheapest rent nor the highest prices. Consider it the state's pragmatic middle ground for families seeking stability without sacrificing local earning potential.
Cost of Living Advisory: Eddy County
Affordability Verdict
Housing in Eddy County is affordable. The median rent is $1,183/month against a median household income of $79,605, putting rent at 17.8% of income.
Rent vs. Own
Renters in Eddy County pay $1,183/month on average, compared to $739/month for homeowners. This market favors buyers by about 38%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $47,320/year. For owner costs at the 28% rule, the required income is roughly $31,671/year. With a median household income of $79,605, most households can comfortably afford rent here. Notably, 25.0% of renter households in Eddy County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Eddy County is more affordable than Lea County by roughly 6% ($1,183/mo vs $1,119/mo).
Affordability Calculator
See how your income compares to housing costs in Eddy County
Rent Burden
17.8%
of gross income
Max Housing (28% Rule)
$1,857
per month
Owner Cost Burden
11.1%
of gross income
You can likely afford the median home in Eddy County
Median home value is $199,400. Estimated monthly cost: $1,592 vs. your max of $1,857.
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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