Total monthly cost of ownership
Cost to Own a Home in Algodones, New Mexico
A $237,000 home here costs
$1,909per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $82,000 a year.
A standard mortgage calculator would have told you $1,292. The real number is $616 higher every month, 48% more than the payment most buyers budget for.
Compare Sandoval County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Algodones from a five-year rolling sample, and with about 1,198 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Sandoval County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Algodones against Sandoval County and New Mexico
| Measure | Algodones | Sandoval County |
|---|---|---|
| Median home value | $236,500 | $282,300 |
| Median property tax | $1,664 | $2,147 |
| Effective tax rate | 0.704% | 0.761% |
| Median gross rent | — | $1,408 |
| Population | 1,198 | 151,538 |
The weather behind that power bill
Algodones sits in Sandoval County, which averages a high of 73.7°F in its hottest month and a low of 8.7°F in its coldest, with 25.48" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 2 cooling and 8,991 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Sandoval County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sandoval County
Full Sandoval County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Algodones averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Algodones every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Algodones I already own here and may sell
Common questions
How much does it cost to own a home in Algodones?
A $237,000 home in Algodones, New Mexico costs approximately $1,909 per month with 20% down at 7.24%. That is $1,292 principal and interest, $139 property tax, $104 homeowners insurance, $176 utilities and $198 set aside for maintenance.
What is the property tax rate in Algodones?
Algodones has an effective property tax rate of 0.704%, based on a median home value of $236,500 and median real estate taxes of $1,664. That is lower than the Sandoval County average of 0.761%.
What is the average home price in Algodones?
The median owner-occupied home value in Algodones, New Mexico is $236,500, against $282,300 across Sandoval County.
Is it cheaper to rent or buy in Algodones?
Rent data is not published for Algodones at this level of detail.
What salary do you need to buy a home in Algodones?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Algodones, New Mexico at today's rate takes a household income of roughly $82,000 a year. That covers the full $1,909 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Algodones, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for New Mexico.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.