Alamogordo, NM home prices
Typical home $229,954 · -1.8% in a year · income needed $62,500
The Alamogordo, NM metro area ranks 521 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed -1.8% in a year and +32.9% over five years. With 20% down at 7.11%, the typical home costs about $1,459 a month including 0.55% property tax (Otero County rate).
Mortgage on the typical Alamogordo home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $45,991 | $183,963 | $1,238 | $0 | $221 | $1,459 | $62,500 |
| 10% down | $22,995 | $206,959 | $1,392 | $86 | $221 | $1,700 | $72,800 |
| 5% down | $11,498 | $218,456 | $1,470 | $91 | $221 | $1,782 | $76,400 |
| 3.5% down (FHA) | $8,048 | $225,789 | $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.
Counties in the Alamogordo area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Otero County, NM | $229,953 | -1.8% | 0.55% |
What can you afford in New Mexico on your salary? · New Mexico home prices · Salaries in New Mexico
Frequently asked questions
How much is a house in Alamogordo?
The typical home in the Alamogordo, NM metro area is worth $229,954 (Zillow, September 2026).
What salary do you need to buy a house in Alamogordo?
About $62,500 a year for the typical home with 20% down at 7.11%.