Total monthly cost of ownership
Cost to Own a Home in Belen, New Mexico
A $155,000 home here costs
$1,284per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $797. The real number is $487 higher every month — 61% 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.
Belen against Valencia County and New Mexico
| Measure | Belen | Valencia County |
|---|---|---|
| Median home value | $154,600 | $206,800 |
| Median property tax | $1,136 | $1,365 |
| Effective tax rate | 0.735% | 0.660% |
| Median gross rent | $877 | $970 |
| Population | 7,427 | 77,382 |
The weather behind that power bill
Belen sits in Valencia County, which averages a high of 93.3°F in its hottest month and a low of 19.0°F in its coldest, with 9.23" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 1,192 cooling and 4,405 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Valencia County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Valencia County
Full Valencia County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Belen?
A $155,000 home in Belen, New Mexico costs approximately $1,284 per month with 20% down at 6.66%. That is $797 principal and interest, $95 property tax, $68 homeowners insurance, $195 utilities and $129 set aside for maintenance.
What is the property tax rate in Belen?
Belen has an effective property tax rate of 0.735%, based on a median home value of $154,600 and median real estate taxes of $1,136. That is higher than the Valencia County average of 0.660%.
What is the average home price in Belen?
The median owner-occupied home value in Belen, New Mexico is $154,600, against $206,800 across Valencia County.
Is it cheaper to rent or buy in Belen?
Median gross rent in Belen is $877 a month, against $1,284 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 Belen — 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.