Total monthly cost of ownership
Cost to Own a Home in Jal, New Mexico
A $105,000 home here costs
$896per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $540. The real number is $356 higher every month — 66% 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.
Jal against Lea County and New Mexico
| Measure | Jal | Lea County |
|---|---|---|
| Median home value | $105,400 | $176,000 |
| Median property tax | $336 | $824 |
| Effective tax rate | 0.319% | 0.468% |
| Median gross rent | $1,155 | $1,119 |
| Population | 2,069 | 73,154 |
The weather behind that power bill
Jal sits in Lea County, which averages a high of 94.4°F in its hottest month and a low of 29.8°F in its coldest, with 14.75" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 1,982 cooling and 2,696 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Lea County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lea County
Common questions
How much does it cost to own a home in Jal?
A $105,000 home in Jal, New Mexico costs approximately $896 per month with 20% down at 6.66%. That is $540 principal and interest, $28 property tax, $46 homeowners insurance, $195 utilities and $88 set aside for maintenance.
What is the property tax rate in Jal?
Jal has an effective property tax rate of 0.319%, based on a median home value of $105,400 and median real estate taxes of $336. That is lower than the Lea County average of 0.468%.
What is the average home price in Jal?
The median owner-occupied home value in Jal, New Mexico is $105,400, against $176,000 across Lea County.
Is it cheaper to rent or buy in Jal?
Median gross rent in Jal is $1,155 a month, against $896 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Jal — 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.