Otero County, New Mexico home prices
Typical home $229,953 · -1.8% in a year · property tax 0.55%
The typical home in Otero County is worth $229,953, 27% less than the New Mexico typical home ($315,812). Values changed -1.8% in the past year and +32.9% over five years. Homeowners here pay a median 0.55% of their home's value in property tax each year ($1,275 on the typical home), versus 0.63% statewide.
Mortgage on the typical Otero County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $45,991 | $183,962 | $1,238 | $0 | $221 | $1,459 | $62,500 |
| 10% down | $22,995 | $206,957 | $1,392 | $86 | $221 | $1,700 | $72,800 |
| 5% down | $11,498 | $218,455 | $1,470 | $91 | $221 | $1,782 | $76,400 |
| 3.5% down (FHA) | $8,048 | $225,788 | $1,519 | $102 | $221 | $1,842 | $78,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.55% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in New Mexico · part of the Alamogordo metro area.
New Mexico counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Torrance County | $217,224 | +6.0% | 0.45% |
| McKinley County | $216,464 | -2.1% | 2% |
| Colfax County | $244,949 | -2.7% | 0.52% |
| San Miguel County | $246,341 | +4.7% | 0.57% |
| Catron County | $212,317 | +8.5% | 0.36% |
| Eddy County | $247,965 | +3.1% | 0.52% |
| Socorro County | $197,130 | +3.3% | 0.61% |
| Lea County | $196,513 | +3.0% | 0.48% |
| San Juan County | $273,559 | +6.8% | 0.68% |
| Sierra County | $180,323 | +4.2% | 0.52% |
Frequently asked questions
What is the average home price in Otero County, NM?
The typical home value in Otero County is $229,953 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Otero County?
About $62,500 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Otero County?
The median effective rate is 0.55% of home value a year (Census ACS 2024 5-year estimates).