San Miguel County, New Mexico Housing Market
In San Miguel County, New Mexico, the median home value is $188,500, with a median monthly rent of $823. This places San Miguel County at #1537 nationally out of 3134 counties by median home value, and #12 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: $687
- Establishments: 655
- BLS QCEW, 2025
Migration Patterns
- Inflow: 10,091 (avg $45,363)
- Outflow: 9,697 (avg $45,248)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in San Miguel County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 87701 | 232.3 | +18.94% | 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 San Miguel County Compares
| Metric | San Miguel County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $188,500 | $192,727 | $227,706 |
| Median Gross Rent | $823 | $904 | $968 |
| Owner Occupancy Rate | 73.1% | 74.2% | 73.3% |
| Price/Rent Ratio | 19.1 | 17.7 | 18.7 |
Market Analysis
The median home value in San Miguel County is 2.2% below the New Mexico state average and 17.2% below the U.S. national average. The median rent of $823/month is 9.0% below the state average.
With a price-to-rent ratio of 19.1, the buy-vs-rent decision in San Miguel County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
San Miguel County has an owner-occupancy rate of 73.1%, 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 |
|---|---|---|---|
| Coffee County | Alabama | $188,600 | $1,018 |
| Perry County | Missouri | $188,200 | $923 |
| Jefferson County | New York | $188,200 | $1,213 |
| Mayes County | Oklahoma | $188,200 | $858 |
| Boone County | Arkansas | $188,900 | $733 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| De Baca County | $187,500 | $387 | 71.5% |
| Lea County | $184,000 | $1,101 | 71.2% |
| San Juan County | $193,800 | $956 | 71.2% |
| Grant County | $175,600 | $825 | 75.8% |
| 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).