Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$171,293+0.4% YoY · prices are flat
Market right nowBalanced, leaning buyersMore homes for sale than last year, 14% have cut their price
Income needed to buy, per year$37,133About 0.7× the local median income ($55,258): affordable for a typical household
Days on market79 daysSlower than a year ago: buyers have time to negotiate
The typical home in Chaves County, NM is worth $171,293, about the same as a year ago. That is well below what local incomes have historically supported: fair value is about $194,744, so the area is 12.0% undervalued. It is a balanced market, leaning toward buyers: homes take about 79 days to sell, listings are up 10% from a year ago, 14% of listings have had a price cut. A household needs about $37,133 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $55,258. Typical rent is $1,263 a month. In the latest IRS figures, 454 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$171,293
Change in 1 year
+0.4%
Overvalued %
−12.0%
Show 6 more
Fair home value
$194,744
Change in 5 years
−4.2%
Home value to income
3.1×
Monthly mortgage payment (20% down)
$928
Income needed to afford it
$37,133
Property tax rate
0.60%
Rent and investing
Typical rent
$1,263
Price-to-rent ratio
11.3×
HUD Fair Market Rent, 2 bedrooms
$1,091
Show 2 more
Gross rental yield
8.85%
Cap rate (estimate)
5.75%
Market activity
Listings vs a year ago
+10.3%
Days on market
79
Listings with a price cut
14.4%
Show 3 more
Homes for sale
193
Pending sales per 100 listings
34
Asking price per sq ft
$143
People and jobs
Median household income
$55,258
Population change (1 year)
−0.6%
Unemployment rate
5.0%
Show 4 more
Population
63,364
Income adjusted for cost of living
$64,328
Net moves in (IRS)
−454
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
5.3
FEMA hazard risk score (0 to 100)
87.6
Unhealthy air days a year
0
Show 4 more
Flood risk score
92.3
Wildfire risk score
92.5
Walkability (1 to 20)
7.9
Road, rail and air noise
52 dB
Questions people ask
Is Chaves County, NM overvalued?
Home prices in Chaves County, NM are well below what local incomes have historically supported: fair value is about $194,744, so the area is 12.0% undervalued.
Is Chaves County, NM a buyer's or seller's market?
Chaves County, NM is a balanced market, leaning toward buyers: homes take about 79 days to sell, listings are up 10% from a year ago, 14% of listings have had a price cut.
Are home prices going down in Chaves County, NM?
Home values in Chaves County, NM are up 0.4% over the last year.
How much do you need to earn to buy a home in Chaves County, NM?
A household needs about $37,133 a year to afford the typical home in Chaves County, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $55,258.