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
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.
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
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.