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)
How Torrance County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Torrance County ranks #2,358 of 3,144 counties for affordability (bottom 25%)
Data Story
About Cost of Living in Torrance County, New Mexico
Torrance's modest wages strain for mountain living
Torrance County's 21.9% rent-to-income ratio ranks among New Mexico's worst, with median household income of $46,250 trailing the U.S. average by $28,505. The gap widens considering median rent of $845, reflecting the county's high elevation and limited economic diversity.
Third-least affordable county in New Mexico
Torrance's 21.9% rent-to-income ratio exceeds New Mexico's state average of 19.4%, ranking among the state's most challenging housing markets. The county struggles to generate incomes sufficient to comfortably support even moderate housing costs.
Steep rents relative to income potential
Torrance's $845 median rent exceeds San Miguel ($774) and Socorro ($653) significantly while incomes remain lower than both competitors. The combination creates a housing squeeze, with residents dedicating a fifth of earnings to rent alone.
Rural life carries unexpected affordability challenges
Torrance households earning $46,250 annually spend $845 monthly on rent (21.9% of income), one of the state's highest proportional burdens. Homeowners pay $599 monthly toward homes averaging $145,100, straining modest-income households despite rural location.
Torrance requires strong financial planning
Consider Torrance County only if you have reliable external income or significant savings, as local wages cannot comfortably support housing costs. The county's high-elevation setting appeals to those seeking isolation, but budget carefully.
Cost of Living Advisory: Torrance County
Affordability Verdict
Torrance County is affordable for renters, with a median gross rent of $845/month representing approximately 21.9% of median household income. The rent burden (GRAPI) stands at 24.0%.
Rent vs. Own
The median rent in Torrance County is $845/month, while owner costs run $599/month. Owning saves approximately $246/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,800/year. For owner costs at the 28% rule, the required income is roughly $25,671/year. With a median household income of $46,250, most households can comfortably afford rent here. Notably, 24.0% of renter households in Torrance County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Mexico, Torrance County is less affordable than Doña Ana County by roughly 6% ($845/mo vs $903/mo).
Affordability Calculator
See how your income compares to housing costs in Torrance County
Rent Burden
21.9%
of gross income
Max Housing (28% Rule)
$1,079
per month
Owner Cost Burden
15.5%
of gross income
The median home in Torrance County may be a stretch
Median home value is $145,100. Estimated monthly cost: $1,158 vs. your max of $1,079.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
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
What is the cost of living in Torrance County, New Mexico?
What is the median rent in Torrance County?
Is Torrance County affordable?
How does Torrance County's rent compare to the state average?
What is the median home value in Torrance County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Torrance County, New Mexico? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Torrance County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.