Cost of Living in Lea County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lea County Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Lea County, New Mexico
Lea's strong incomes offset higher rents
Lea County renters spend 19.5% of household income on rent, essentially matching New Mexico's state average of 19.4%, but residents here earn $68,750—only 8% below the national median. This income advantage makes Lea's higher rents ($1,119) far more manageable than the raw number suggests.
Higher rents, higher wages, balanced burden
Lea County's rent-to-income ratio of 19.5% matches the state average, yet the county ranks among the state's higher-income counties. This above-average earning power is driven by oil and gas employment, which elevates both incomes and rents.
Highest rents, but strong incomes justify them
Lea's $1,119 median rent rivals Eddy County's $1,183, and both far exceed the state average of $876. The difference: Lea's $68,750 median income creates a 19.5% burden ratio, while lower-income neighbors struggle with higher proportional costs.
Energy sector earnings power the rental market
Renters pay $1,119 monthly while owners pay $699, with median home values around $176,000. The $68,750 median household income—well above most New Mexico counties—reflects the region's oil and gas economy and sustains the higher housing costs.
Lea: premium rents for energy-sector wages
Lea County offers higher rents than most of New Mexico, but also significantly higher incomes—primarily from oil and gas work. If you're considering a move here, factor in energy sector job cycles, which can dramatically impact both employment and housing demand.
Affordability Calculator
See how your income compares to housing costs in Lea County
Rent Burden
19.5%
of gross income
Max Housing (28% Rule)
$1,604
per month
Owner Cost Burden
12.2%
of gross income
You can likely afford the median home in Lea County
Median home value is $176,000. Estimated monthly cost: $1,405 vs. your max of $1,604.
Rent Affordability Guide
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.