Cost of Living in Sierra County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Sierra County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Sierra County ranks #1,282 of 3,144 counties for affordability (top 41%)
Data Story
About Cost of Living in Sierra County, New Mexico
Sierra's low rents mask deep income inequality
Sierra County's 22.0% rent-to-income ratio ranks among New Mexico's worst despite median rents of only $695—well below the national norm. The problem: median household income of $37,840 trails the U.S. average by $36,915, making even modest rents a proportional burden.
Second-least affordable county in New Mexico
Sierra's 22.0% rent-to-income ratio exceeds New Mexico's state average of 19.4%, placing it among the state's most stressed housing markets. The county's rural economy struggles to generate incomes sufficient to offset even modest housing costs.
Cheap rents, but income disparity tells the real story
Sierra's $695 median rent undercuts Socorro County ($653) only slightly and trails most regional competitors. However, Sierra's $37,840 median income represents the lowest earnings in the region, making even bargain rents disproportionately expensive.
Tight household budgets stretched by rent
Sierra residents earning $37,840 annually spend $695 monthly on rent—22% of gross income, the highest proportional burden in the region. Homeowners fare slightly better at $464 monthly, though homes average only $144,800, reflecting limited local economic opportunity.
Sierra demands careful financial planning
Consider Sierra County only if you have remote income or retirement savings, as local wages cannot comfortably support even modest housing costs. The county offers affordability in absolute dollars, but proportional rent burden ranks among New Mexico's most challenging.
Cost of Living Advisory: Sierra County
Affordability Verdict
Sierra County offers affordable rental housing at a median of $695/month — about 22.0% of the typical household income here.
Rent vs. Own
Renters in Sierra County pay $695/month on average, compared to $464/month for homeowners. This market favors buyers by about 33%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $27,800/year. For owner costs at the 28% rule, the required income is roughly $19,886/year. With a median household income of $37,840, most households can comfortably afford rent here. Notably, 30.0% of renter households in Sierra County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Sierra County is less affordable than Quay County by roughly 8% ($695/mo vs $752/mo).
Affordability Calculator
See how your income compares to housing costs in Sierra County
Rent Burden
22.0%
of gross income
Max Housing (28% Rule)
$883
per month
Owner Cost Burden
14.7%
of gross income
The median home in Sierra County may be a stretch
Median home value is $144,800. Estimated monthly cost: $1,156 vs. your max of $883.
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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