Total monthly cost of ownership
Cost to Own a Home in Clayton, New Mexico
A $112,000 home here costs
$989per 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 $42,500 a year.
A standard mortgage calculator would have told you $611. The real number is $379 higher every month, 62% more than the payment most buyers budget for.
Compare Union County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Clayton from a five-year rolling sample, and with about 2,680 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 Union 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.
Clayton against Union County and New Mexico
| Measure | Clayton | Union County |
|---|---|---|
| Median home value | $111,500 | $135,900 |
| Median property tax | $719 | $776 |
| Effective tax rate | 0.645% | 0.571% |
| Median gross rent | $637 | $650 |
| Population | 2,680 | 4,039 |
The weather behind that power bill
Clayton sits in Union County, which averages a high of 90.0°F in its hottest month and a low of 21.4°F in its coldest, with 16.12" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 968 cooling and 4,848 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Union County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Union County
No other places of this size are published in Union County.
Full Union County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Clayton 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 Clayton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Clayton I already own here and may sell
Common questions
How much does it cost to own a home in Clayton?
A $112,000 home in Clayton, New Mexico costs approximately $989 per month with 20% down at 7.24%. That is $611 principal and interest, $60 property tax, $49 homeowners insurance, $176 utilities and $93 set aside for maintenance.
What is the property tax rate in Clayton?
Clayton has an effective property tax rate of 0.645%, based on a median home value of $111,500 and median real estate taxes of $719. That is higher than the Union County average of 0.571%.
What is the average home price in Clayton?
The median owner-occupied home value in Clayton, New Mexico is $111,500, against $135,900 across Union County.
Is it cheaper to rent or buy in Clayton?
Median gross rent in Clayton is $637 a month, against $989 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 Clayton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Clayton, New Mexico at today's rate takes a household income of roughly $42,500 a year. That covers the full $989 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Clayton, 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.