Torrance County, New Mexico Housing Market
In Torrance County, New Mexico, the median home value is $159,700, with a median monthly rent of $872. This places Torrance County at #2024 nationally out of 3134 counties by median home value, and #20 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: $1,094
- Establishments: 308
- BLS QCEW, 2025
Migration Patterns
- Inflow: 5,509 (avg $49,017)
- Outflow: 5,054 (avg $48,628)
- IRS Statistics of Income
How Torrance County Compares
| Metric | Torrance County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $159,700 | $192,727 | $227,706 |
| Median Gross Rent | $872 | $904 | $968 |
| Owner Occupancy Rate | 81.7% | 74.2% | 73.3% |
| Price/Rent Ratio | 15.3 | 17.7 | 18.7 |
Market Analysis
The median home value in Torrance County is 17.1% below the New Mexico state average and 29.9% below the U.S. national average. The median rent of $872/month is 3.5% below the state average.
With a price-to-rent ratio of 15.3, the buy-vs-rent decision in Torrance County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Torrance County has an owner-occupancy rate of 81.7%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Washington County | Alabama | $159,700 | $655 |
| Pendleton County | Kentucky | $159,800 | $793 |
| Red Willow County | Nebraska | $159,600 | $819 |
| Murray County | Oklahoma | $159,800 | $881 |
| Jackson County | Alabama | $159,500 | $780 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Otero County | $162,700 | $962 | 67.0% |
| Chaves County | $156,400 | $867 | 71.3% |
| Sierra County | $152,600 | $729 | 71.8% |
| Catron County | $167,000 | $736 | 93.8% |
| Colfax County | $167,200 | $729 | 71.8% |
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 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).