Cost of Living in Grant County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Grant County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Grant County ranks #469 of 3,144 counties for affordability (top 15%)
Data Story
About Cost of Living in Grant County, New Mexico
Grant's affordability masks income gap
Grant County renters spend 21.2% of income on rent—above the national comfort zone and 1.8 points higher than New Mexico's state average of 19.4%. The real challenge: median household income of just $45,921, roughly 39% below the national median of $74,755, leaves less room for other expenses.
Below-average incomes, above-average burden
Grant County ranks among the state's lower-income counties, pushing its rent-to-income ratio above New Mexico's 19.4% average. At 21.2%, the ratio signals housing demand is outpacing local earning potential, a squeeze felt across the county.
Cheapest rents, but lowest incomes
Grant's $810 median rent is the lowest among this cluster of counties, undercutting Lincoln County ($883) and Hidalgo County ($803). However, Grant's median income of $45,921 is also the lowest, meaning affordability ratios don't tell the full story—residents have less overall purchasing power.
Low rents reflect low incomes
Renters pay $810 monthly while homeowners pay $491, with median home values around $164,400. The county's low housing costs reflect its low-income economy; households earning $45,921 still dedicate 21.2% of gross income to rent.
Grant: bargain rents, tight budgets
Grant County offers the cheapest rents in this comparison, but income levels are also the lowest. If you're relocating, weigh the lower housing costs against limited local job markets and salaries before deciding if the move aligns with your financial goals.
Cost of Living Advisory: Grant County
Affordability Verdict
Housing in Grant County is affordable. The median rent is $810/month against a median household income of $45,921, putting rent at 21.2% of income.
Rent vs. Own
At $810/month rent versus $491/month in owner costs, owning is roughly $319/month cheaper — a 39% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,400/year. For owner costs at the 28% rule, the required income is roughly $21,043/year. With a median household income of $45,921, most households can comfortably afford rent here. Notably, 30.0% of renter households in Grant County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Grant County is less affordable than Roosevelt County by roughly 6% ($810/mo vs $863/mo).
Affordability Calculator
See how your income compares to housing costs in Grant County
Rent Burden
21.2%
of gross income
Max Housing (28% Rule)
$1,071
per month
Owner Cost Burden
12.8%
of gross income
The median home in Grant County may be a stretch
Median home value is $164,400. Estimated monthly cost: $1,312 vs. your max of $1,071.
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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