Total monthly cost of ownership
Cost to Own a Home in Artesia, New Mexico
A $214,000 home here costs
$1,648per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,100. The real number is $547 higher every month — 50% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Artesia against Eddy County and New Mexico
| Measure | Artesia | Eddy County |
|---|---|---|
| Median home value | $213,800 | $199,400 |
| Median property tax | $963 | $995 |
| Effective tax rate | 0.450% | 0.499% |
| Median gross rent | $875 | $1,183 |
| Population | 12,555 | 61,114 |
The weather behind that power bill
Artesia sits in Eddy County, which averages a high of 96.2°F in its hottest month and a low of 29.5°F in its coldest, with 12.05" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 2,194 cooling and 2,756 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Eddy County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Eddy County
Full Eddy County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Artesia?
A $214,000 home in Artesia, New Mexico costs approximately $1,648 per month with 20% down at 6.66%. That is $1,100 principal and interest, $80 property tax, $94 homeowners insurance, $195 utilities and $178 set aside for maintenance.
What is the property tax rate in Artesia?
Artesia has an effective property tax rate of 0.450%, based on a median home value of $213,800 and median real estate taxes of $963. That is lower than the Eddy County average of 0.499%.
What is the average home price in Artesia?
The median owner-occupied home value in Artesia, New Mexico is $213,800, against $199,400 across Eddy County.
Is it cheaper to rent or buy in Artesia?
Median gross rent in Artesia is $875 a month, against $1,648 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Artesia — 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.