Total monthly cost of ownership
Cost to Own a Home in La Plata, New Mexico
A $187,000 home here costs
$1,489per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $961. The real number is $527 higher every month — 55% 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.
La Plata against San Juan County and New Mexico
| Measure | La Plata | San Juan County |
|---|---|---|
| Median home value | $187,000 | $185,100 |
| Median property tax | $1,137 | $1,249 |
| Effective tax rate | 0.608% | 0.675% |
| Median gross rent | $1,000 | $917 |
| Population | 2,185 | 121,178 |
The weather behind that power bill
La Plata sits in San Juan County, which averages a high of 93.3°F in its hottest month and a low of 19.2°F in its coldest, with 7.76" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 995 cooling and 5,268 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for San Juan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in San Juan County
Full San Juan County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in La Plata?
A $187,000 home in La Plata, New Mexico costs approximately $1,489 per month with 20% down at 6.66%. That is $961 principal and interest, $95 property tax, $82 homeowners insurance, $195 utilities and $156 set aside for maintenance.
What is the property tax rate in La Plata?
La Plata has an effective property tax rate of 0.608%, based on a median home value of $187,000 and median real estate taxes of $1,137. That is lower than the San Juan County average of 0.675%.
What is the average home price in La Plata?
The median owner-occupied home value in La Plata, New Mexico is $187,000, against $185,100 across San Juan County.
Is it cheaper to rent or buy in La Plata?
Median gross rent in La Plata is $1,000 a month, against $1,489 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 La Plata — 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.