Cost of Living in Torrance County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Torrance County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Torrance County ranks #902 of 3,142 counties for affordability (top 29%)
Sourced county brief
Torrance County Median Rent Percentage Below State Mean
In Torrance County, the official median gross rent as a percentage of household income (GRAPI) is 19.9%. This canonical rent-to-income percentage is 8.5 percentage points lower than the New Mexico unweighted county mean of 28.4%. The median gross rent in the county is $872, compared to the state unweighted county mean of $905. Median renter-household income is estimated at $60,656. Owner-occupied units have a median home value of $159,700, which is below the state unweighted county mean of $192,727. Median selected monthly owner costs are $587, compared to the state unweighted county mean of $711. These values are snapshot estimates and do not describe historical trends or future changes. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Torrance County
Affordability Verdict
ACS B25071 estimates median gross rent at 19.9% of renter household income in Torrance County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $872 per month; median selected monthly owner costs are $587. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $34,880 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Mexico unweighted mean of county median rents is $905 per month. Torrance County's $872 median is 3.6% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Torrance County
Rent Burden
18.1%
of gross income
Max Housing (28% Rule)
$1,350
per month
Owner Cost Burden
12.2%
of gross income
You can likely afford the median home in Torrance County
Median home value is $159,700. Estimated monthly cost: $1,275 vs. your max of $1,350.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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