Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$229,953−1.8% YoY · prices are falling
Market right nowBuyer's marketMore homes for sale than last year, 13% have cut their price
Income needed to buy, per year$49,849About 0.9× the local median income ($56,152): affordable for a typical household
Days on market80 daysAbout the same pace as a year ago
The typical home in Otero County, NM is worth $229,953, down 1.8% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $212,036, so the area is 8.4% overvalued. It is a buyer's market: homes take about 80 days to sell, listings are up 6% from a year ago, 13% of listings have had a price cut. A household needs about $49,849 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 $56,152. Typical rent is $1,524 a month. In the latest IRS figures, 320 more people moved in than out.
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
$229,953
Change in 1 year
−1.8%
Overvalued %
+8.4%
Show 6 more
Fair home value
$212,036
Change in 5 years
+32.9%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$1,246
Income needed to afford it
$49,849
Property tax rate
0.55%
Rent and investing
Typical rent
$1,524
Price-to-rent ratio
12.6×
HUD Fair Market Rent, 2 bedrooms
$1,014
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Gross rental yield
7.95%
Cap rate (estimate)
5.17%
Market activity
Listings vs a year ago
+5.5%
Days on market
80
Listings with a price cut
12.9%
Show 3 more
Homes for sale
343
Pending sales per 100 listings
23
Asking price per sq ft
$183
People and jobs
Median household income
$56,152
Population change (1 year)
−0.4%
Unemployment rate
8.6%
Show 4 more
Population
70,368
Income adjusted for cost of living
$65,369
Net moves in (IRS)
+320
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
6.3
FEMA hazard risk score (0 to 100)
84.7
Flood risk score
88.6
Show 3 more
Wildfire risk score
98.2
Walkability (1 to 20)
5.7
Road, rail and air noise
53 dB
Questions people ask
Is Otero County, NM overvalued?
Home prices in Otero County, NM are slightly above what local incomes have historically supported: fair value is about $212,036, so the area is 8.4% overvalued.
Is Otero County, NM a buyer's or seller's market?
Otero County, NM is a buyer's market: homes take about 80 days to sell, listings are up 6% from a year ago, 13% of listings have had a price cut.
Are home prices going down in Otero County, NM?
Home values in Otero County, NM are down 1.8% over the last year.
How much do you need to earn to buy a home in Otero County, NM?
A household needs about $49,849 a year to afford the typical home in Otero County, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $56,152.