CALCMONEY // HOME AFFORDABILITY // NM // LAS CRUCES
How much house can you afford in Las Cruces? Based on local median home prices, current NM mortgage rates, and Las Cruces property tax data.
$199,000
$1,264/mo
$54,175/yr
$136,669
Monthly housing costs of $1,264 represent 37.8% of Las Cruces's median gross monthly income ($3,342/mo). At 37.8%, median-income buyers in Las Cruces are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $199,000 |
| Down Payment (20%) | $39,800 |
| Loan Amount | $159,200 |
| Monthly PI Payment | $1,048 |
| Monthly Property Tax | $133 |
| Monthly Insurance Est. | $83 |
| Total Monthly PITI | $1,264 |
| Housing Cost % of Income | 37.8% |
| Required Income (28% rule) | $54,175/yr |
| Max Affordable Home | $136,669 |
$6,965
$1,616/mo
Las Cruces Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $199,000 | Las Cruces city median |
| Down Payment (20%) | $39,800 | Conventional loan |
| Monthly PITI | $1,264 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $54,175 | Annual gross |
| Max Affordable Home | $136,669 | Based on median income |
| FHA Down (3.5%) | $6,965 | Minimum FHA |
| Housing Cost % of Income | 37.8% | Median income: $40,100/yr |
| Property Tax Rate | 0.8% | $1,592/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Las Cruces is $199,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $159,200, generating a monthly P&I payment of $1,048. Adding property taxes ($133/mo) and homeowners insurance ($83/mo) brings total monthly PITI to $1,264.
Las Cruces's property tax rate of 0.8% is near the national average, adding a standard increment to monthly housing costs. On the Las Cruces median home, that is $133/month, or $1,592 per year.
New Mexico levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Las Cruces should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Las Cruces's median income of $40,100/year can afford up to $936/month in total housing costs. Based on Las Cruces's mortgage rate of 6.9% and property tax rate of 0.8%, that translates to a maximum affordable home price of approximately $136,669 with 20% down on a 30-year loan.
To afford the median Las Cruces home priced at $199,000, you need an annual gross income of approximately $54,175. Total monthly housing costs (principal and interest of $1,048, property taxes of $133, and insurance of $83) come to $1,264/month, which equals 28% of the required income.
At the median home price of $199,000 and median household income of $40,100, the total monthly housing cost of $1,264 represents 37.8% of gross monthly income. This is well above the standard 28% threshold, making Las Cruces a challenging market for buyers at median income.
A conventional 20% down payment on the median Las Cruces home of $199,000 is $39,800. An FHA loan requires just 3.5% down — $6,965 — but adds mortgage insurance of roughly $136/month, bringing total FHA payments to $1,616/month.
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