Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$217,224+6.0% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 21% have cut their price
Income needed to buy, per year$47,090About 0.8× the local median income ($56,736): affordable for a typical household
Days on market106 daysAbout the same pace as a year ago
Next 12 months+2.4%Zillow expects prices to rise slightly
The typical home in Torrance County, NM is worth $217,224, up 6.0% from a year ago. That is well below what local incomes have historically supported: fair value is about $265,439, so the area is 18.2% undervalued. It is a balanced market, leaning toward buyers: homes take about 106 days to sell, listings are up 23% from a year ago, 21% of listings have had a price cut. Zillow expects prices to rise about 2.4% over the next year. A household needs about $47,090 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 $56,736. In the latest IRS figures, 219 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
$217,224
Change in 1 year
+6.0%
Overvalued %
−18.2%
Show 7 more
Fair home value
$265,439
Change in 5 years
+6.0%
Zillow forecast, next 12 months
+2.4%
Home value to income
3.8×
Monthly mortgage payment (20% down)
$1,177
Income needed to afford it
$47,090
Property tax rate
0.45%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,384
Market activity
Listings vs a year ago
+22.9%
Days on market
106
Listings with a price cut
20.7%
Show 3 more
Homes for sale
43
Pending sales per 100 listings
26
Asking price per sq ft
$207
People and jobs
Median household income
$56,736
Population change (1 year)
+1.0%
Unemployment rate
9.0%
Show 4 more
Population
16,100
Income adjusted for cost of living
$59,409
Net moves in (IRS)
+219
Cost of living (US = 100)
95.5
Schools, risk and environment
School rating (1 to 10)
5.7
FEMA hazard risk score (0 to 100)
46.2
Flood risk score
62.8
Show 3 more
Wildfire risk score
91.4
Walkability (1 to 20)
5.1
Road, rail and air noise
54 dB
Questions people ask
Is Torrance County, NM overvalued?
Home prices in Torrance County, NM are well below what local incomes have historically supported: fair value is about $265,439, so the area is 18.2% undervalued.
Is Torrance County, NM a buyer's or seller's market?
Torrance County, NM is a balanced market, leaning toward buyers: homes take about 106 days to sell, listings are up 23% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Torrance County, NM?
Home values in Torrance County, NM are up 6.0% over the last year. Zillow's forecast for the next 12 months is +2.4%.
How much do you need to earn to buy a home in Torrance County, NM?
A household needs about $47,090 a year to afford the typical home in Torrance County, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $56,736.