Otero County, New Mexico Housing Market
In Otero County, New Mexico, the median home value is $162,700, with a median monthly rent of $962. This places Otero County at #1961 nationally out of 3134 counties by median home value, and #19 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $939
- Establishments: 1,213
- BLS QCEW, 2025
Housing Supply
- Single-family: 3
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 26,125 (avg $50,809)
- Outflow: 23,247 (avg $51,036)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Otero County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 88310 | 231.3 | +8.86% | 2025 |
| 2 | 88317 | 296.6 | +12.44% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Otero County Compares
| Metric | Otero County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $162,700 | $192,727 | $227,706 |
| Median Gross Rent | $962 | $904 | $968 |
| Owner Occupancy Rate | 67.0% | 74.2% | 73.3% |
| Price/Rent Ratio | 14.1 | 17.7 | 18.7 |
Market Analysis
The median home value in Otero County is 15.6% below the New Mexico state average and 28.5% below the U.S. national average. The median rent of $962/month is 6.4% above the state average.
With a price-to-rent ratio of 14.1, buying a home in Otero County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Otero County has an owner-occupancy rate of 67.0%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Wayne County | Georgia | $162,800 | $846 |
| Adams County | Illinois | $162,600 | $828 |
| Alcona County | Michigan | $162,800 | $867 |
| Calhoun County | Michigan | $162,800 | $968 |
| Oldham County | Texas | $162,800 | $1,111 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Torrance County | $159,700 | $872 | 81.7% |
| Catron County | $167,000 | $736 | 93.8% |
| Colfax County | $167,200 | $729 | 71.8% |
| Chaves County | $156,400 | $867 | 71.3% |
| Curry County | $171,200 | $1,024 | 62.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).