Total monthly cost of ownership
Cost to Own a Home in Las Vegas, New Mexico
A $144,000 home here costs
$1,206per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $740. The real number is $466 higher every month — 63% 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.
Las Vegas against San Miguel County and New Mexico
| Measure | Las Vegas | San Miguel County |
|---|---|---|
| Median home value | $143,900 | $177,600 |
| Median property tax | $1,054 | $991 |
| Effective tax rate | 0.732% | 0.558% |
| Median gross rent | $731 | $774 |
| Population | 13,120 | 27,036 |
The weather behind that power bill
Las Vegas sits in San Miguel County, which averages a high of 83.5°F in its hottest month and a low of 19.5°F in its coldest, with 15.73" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 318 cooling and 5,713 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for San Miguel County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in San Miguel County
Full San Miguel County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Las Vegas?
A $144,000 home in Las Vegas, New Mexico costs approximately $1,206 per month with 20% down at 6.66%. That is $740 principal and interest, $88 property tax, $63 homeowners insurance, $195 utilities and $120 set aside for maintenance.
What is the property tax rate in Las Vegas?
Las Vegas has an effective property tax rate of 0.732%, based on a median home value of $143,900 and median real estate taxes of $1,054. That is higher than the San Miguel County average of 0.558%.
What is the average home price in Las Vegas?
The median owner-occupied home value in Las Vegas, New Mexico is $143,900, against $177,600 across San Miguel County.
Is it cheaper to rent or buy in Las Vegas?
Median gross rent in Las Vegas is $731 a month, against $1,206 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 Las Vegas — 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.