Total monthly cost of ownership
Cost to Own a Home in Deming, New Mexico
A $113,000 home here costs
$977per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $581. The real number is $396 higher every month — 68% 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.
Deming against Luna County and New Mexico
| Measure | Deming | Luna County |
|---|---|---|
| Median home value | $112,800 | $112,500 |
| Median property tax | $684 | $648 |
| Effective tax rate | 0.606% | 0.576% |
| Median gross rent | $596 | $685 |
| Population | 14,735 | 25,420 |
The weather behind that power bill
Deming sits in Luna County, which averages a high of 96.1°F in its hottest month and a low of 27.0°F in its coldest, with 9.34" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 1,815 cooling and 3,047 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Luna County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Luna County
Full Luna County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Deming?
A $113,000 home in Deming, New Mexico costs approximately $977 per month with 20% down at 6.66%. That is $581 principal and interest, $57 property tax, $50 homeowners insurance, $195 utilities and $94 set aside for maintenance.
What is the property tax rate in Deming?
Deming has an effective property tax rate of 0.606%, based on a median home value of $112,800 and median real estate taxes of $684. That is higher than the Luna County average of 0.576%.
What is the average home price in Deming?
The median owner-occupied home value in Deming, New Mexico is $112,800, against $112,500 across Luna County.
Is it cheaper to rent or buy in Deming?
Median gross rent in Deming is $596 a month, against $977 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 Deming — 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.