Total monthly cost of ownership
Cost to Own a Home in Clovis, New Mexico
A $160,000 home here costs
$1,300per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $823. The real number is $477 higher every month — 58% 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.
Clovis against Curry County and New Mexico
| Measure | Clovis | Curry County |
|---|---|---|
| Median home value | $160,000 | $160,800 |
| Median property tax | $948 | $893 |
| Effective tax rate | 0.593% | 0.555% |
| Median gross rent | $947 | $987 |
| Population | 38,153 | 47,932 |
The weather behind that power bill
Clovis sits in Curry County, which averages a high of 91.2°F in its hottest month and a low of 22.4°F in its coldest, with 17.6" of precipitation a year and 45% of it in a single three-month stretch. That climate drives 1,225 cooling and 4,221 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Curry County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Curry County
No other places of this size are published in Curry County.
Full Curry County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Clovis?
A $160,000 home in Clovis, New Mexico costs approximately $1,300 per month with 20% down at 6.66%. That is $823 principal and interest, $79 property tax, $70 homeowners insurance, $195 utilities and $133 set aside for maintenance.
What is the property tax rate in Clovis?
Clovis has an effective property tax rate of 0.593%, based on a median home value of $160,000 and median real estate taxes of $948. That is higher than the Curry County average of 0.555%.
What is the average home price in Clovis?
The median owner-occupied home value in Clovis, New Mexico is $160,000, against $160,800 across Curry County.
Is it cheaper to rent or buy in Clovis?
Median gross rent in Clovis is $947 a month, against $1,300 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 Clovis — 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.