Total monthly cost of ownership
Cost to Own a Home in Little Walnut Village, New Mexico
A $279,000 home here costs
$2,181per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $93,500 a year.
A standard mortgage calculator would have told you $1,521. The real number is $660 higher every month, 43% more than the payment most buyers budget for.
Compare Grant County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Little Walnut Village from a five-year rolling sample, and with about 1,520 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Grant County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Little Walnut Village against Grant County and New Mexico
| Measure | Little Walnut Village | Grant County |
|---|---|---|
| Median home value | $278,600 | $164,400 |
| Median property tax | $1,547 | $756 |
| Effective tax rate | 0.555% | 0.460% |
| Median gross rent | — | $810 |
| Population | 1,520 | 27,856 |
The weather behind that power bill
Little Walnut Village sits in Grant County, which averages a high of 90.9°F in its hottest month and a low of 20.4°F in its coldest, with 14.51" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 875 cooling and 4,278 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Grant County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grant County
Full Grant County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Little Walnut Village averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Little Walnut Village every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Little Walnut Village I already own here and may sell
Common questions
How much does it cost to own a home in Little Walnut Village?
A $279,000 home in Little Walnut Village, New Mexico costs approximately $2,181 per month with 20% down at 7.24%. That is $1,521 principal and interest, $129 property tax, $122 homeowners insurance, $176 utilities and $233 set aside for maintenance.
What is the property tax rate in Little Walnut Village?
Little Walnut Village has an effective property tax rate of 0.555%, based on a median home value of $278,600 and median real estate taxes of $1,547. That is higher than the Grant County average of 0.460%.
What is the average home price in Little Walnut Village?
The median owner-occupied home value in Little Walnut Village, New Mexico is $278,600, against $164,400 across Grant County.
Is it cheaper to rent or buy in Little Walnut Village?
Rent data is not published for Little Walnut Village at this level of detail.
What salary do you need to buy a home in Little Walnut Village?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Little Walnut Village, New Mexico at today's rate takes a household income of roughly $93,500 a year. That covers the full $2,181 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Little Walnut Village, 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.