Cost of Living in Luna County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Luna County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Luna County ranks #679 of 3,144 counties for affordability (top 22%)
Data Story
About Cost of Living in Luna County, New Mexico
Luna County rents strain tight budgets
Luna County residents spend 21.7% of their income on rent, compared to a national average closer to 28%, but earn just $37,917 annually—half the national median of $74,755. While the rent-to-income ratio looks better than the U.S. average, residents' lower incomes mean housing costs still consume a meaningful share of stretched household budgets.
Above average housing pressure statewide
Luna County's 21.7% rent-to-income ratio ranks above New Mexico's 19.4% state average, placing it among the less affordable counties in the state. At $685 monthly rent, Luna County is notably below the state median of $876, yet residents' lower incomes push the affordability burden higher.
Comparable to rural New Mexico peers
Luna County's $685 rent aligns closely with Quay County ($752) and Mora County ($785), making it one of the cheapest rental markets in rural New Mexico. However, McKinley County offers slightly higher rents ($810) with lower homeownership costs, presenting a trade-off for renters versus buyers.
Renters stretch further than buyers
Luna County renters pay $685 monthly while homeowners spend $560—a rare case where ownership costs less than renting. With median household income at $37,917 annually, renters dedicate 21.7% of gross income to housing, while homeowners at the median spend roughly 17.7% on mortgages.
Affordable rent, but consider income
Luna County offers some of New Mexico's cheapest rents, making it attractive for remote workers or retirees with external income sources. Before relocating, compare your income expectations with the $37,917 county median to ensure your housing costs won't outpace local wage opportunities.
Cost of Living Advisory: Luna County
Affordability Verdict
Housing in Luna County is affordable. The median rent is $685/month against a median household income of $37,917, putting rent at 21.7% of income.
Rent vs. Own
The median rent in Luna County is $685/month, while owner costs run $560/month. Owning saves approximately $125/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $27,400/year. For owner costs at the 28% rule, the required income is roughly $24,000/year. With a median household income of $37,917, most households can comfortably afford rent here. Notably, 30.0% of renter households in Luna County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Luna County is less affordable than Catron County by roughly 7% ($685/mo vs $740/mo).
Affordability Calculator
See how your income compares to housing costs in Luna County
Rent Burden
21.7%
of gross income
Max Housing (28% Rule)
$885
per month
Owner Cost Burden
17.7%
of gross income
The median home in Luna County may be a stretch
Median home value is $112,500. Estimated monthly cost: $898 vs. your max of $885.
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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