Total monthly cost of ownership
Cost to Own a Home in Chaparral, New Mexico
A $102,000 home here costs
$916per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $39,000 a year.
A standard mortgage calculator would have told you $565. The real number is $351 higher every month, 62% more than the payment most buyers budget for.
Compare Doña Ana County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Chaparral against Doña Ana County and New Mexico
| Measure | Chaparral | Doña Ana County |
|---|---|---|
| Median home value | $101,900 | $205,400 |
| Median property tax | $573 | $1,404 |
| Effective tax rate | 0.562% | 0.684% |
| Median gross rent | $874 | $903 |
| Population | 16,642 | 221,665 |
Chaparral extends across 2 counties. Figures here use Doña Ana County, where most of its housing sits.
The weather behind that power bill
Chaparral sits in Doña Ana County, which averages a high of 96.2°F in its hottest month and a low of 29.6°F in its coldest, with 9.14" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 2,059 cooling and 2,675 heating degree days, which is what sets the $105 electricity line above.
See the full climate breakdown for Doña Ana County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Doña Ana County
Full Doña Ana County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Chaparral 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 Chaparral every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Chaparral I already own here and may sell
Common questions
How much does it cost to own a home in Chaparral?
A $102,000 home in Chaparral, New Mexico costs approximately $916 per month with 20% down at 7.4%. That is $565 principal and interest, $48 property tax, $45 homeowners insurance, $173 utilities and $85 set aside for maintenance.
What is the property tax rate in Chaparral?
Chaparral has an effective property tax rate of 0.562%, based on a median home value of $101,900 and median real estate taxes of $573. That is lower than the Doña Ana County average of 0.684%.
What is the average home price in Chaparral?
The median owner-occupied home value in Chaparral, New Mexico is $101,900, against $205,400 across Doña Ana County.
Is it cheaper to rent or buy in Chaparral?
Median gross rent in Chaparral is $874 a month, against $916 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Chaparral?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chaparral, New Mexico at today's rate takes a household income of roughly $39,000 a year. That covers the full $916 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chaparral, 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.