Torrance County, New Mexico home prices
Typical home $217,224 · +6.0% in a year · property tax 0.45%
The typical home in Torrance County is worth $217,224, 31% less than the New Mexico typical home ($315,812). Values changed +6.0% in the past year and +6.0% over five years. Homeowners here pay a median 0.45% of their home's value in property tax each year ($978 on the typical home), versus 0.63% statewide.
Mortgage on the typical Torrance County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $43,445 | $173,779 | $1,169 | $0 | $190 | $1,359 | $58,200 |
| 10% down | $21,722 | $195,501 | $1,315 | $81 | $190 | $1,587 | $68,000 |
| 5% down | $10,861 | $206,362 | $1,388 | $86 | $190 | $1,664 | $71,300 |
| 3.5% down (FHA) | $7,603 | $213,289 | $1,435 | $96 | $190 | $1,721 | $73,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.45% 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 Albuquerque metro area.
New Mexico counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| McKinley County | $216,464 | -2.1% | 2% |
| Catron County | $212,317 | +8.5% | 0.36% |
| Otero County | $229,953 | -1.8% | 0.55% |
| Socorro County | $197,130 | +3.3% | 0.61% |
| Lea County | $196,513 | +3.0% | 0.48% |
| Colfax County | $244,949 | -2.7% | 0.52% |
| San Miguel County | $246,341 | +4.7% | 0.57% |
| Eddy County | $247,965 | +3.1% | 0.52% |
| Sierra County | $180,323 | +4.2% | 0.52% |
| Grant County | $178,942 | -4.8% | 0.46% |
Frequently asked questions
What is the average home price in Torrance County, NM?
The typical home value in Torrance County is $217,224 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Torrance County?
About $58,200 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Torrance County?
The median effective rate is 0.45% of home value a year (Census ACS 2024 5-year estimates).