Total monthly cost of ownership
Cost to Own a Home in Los Chaves, New Mexico
A $241,000 home here costs
$1,921per 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 $82,500 a year.
A standard mortgage calculator would have told you $1,314. The real number is $607 higher every month, 46% more than the payment most buyers budget for.
Compare Valencia County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Los Chaves from a five-year rolling sample, and with about 4,641 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 Valencia 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.
Los Chaves against Valencia County and New Mexico
| Measure | Los Chaves | Valencia County |
|---|---|---|
| Median home value | $240,500 | $206,800 |
| Median property tax | $1,491 | $1,365 |
| Effective tax rate | 0.620% | 0.660% |
| Median gross rent | $860 | $970 |
| Population | 4,641 | 77,382 |
The weather behind that power bill
Los Chaves sits in Valencia County, which averages a high of 93.3°F in its hottest month and a low of 19.0°F in its coldest, with 9.23" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 1,192 cooling and 4,405 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Valencia County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Valencia County
Full Valencia County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Los Chaves 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 Los Chaves every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Los Chaves I already own here and may sell
Common questions
How much does it cost to own a home in Los Chaves?
A $241,000 home in Los Chaves, New Mexico costs approximately $1,921 per month with 20% down at 7.24%. That is $1,314 principal and interest, $125 property tax, $106 homeowners insurance, $176 utilities and $201 set aside for maintenance.
What is the property tax rate in Los Chaves?
Los Chaves has an effective property tax rate of 0.620%, based on a median home value of $240,500 and median real estate taxes of $1,491. That is lower than the Valencia County average of 0.660%.
What is the average home price in Los Chaves?
The median owner-occupied home value in Los Chaves, New Mexico is $240,500, against $206,800 across Valencia County.
Is it cheaper to rent or buy in Los Chaves?
Median gross rent in Los Chaves is $860 a month, against $1,921 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Los Chaves?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Los Chaves, New Mexico at today's rate takes a household income of roughly $82,500 a year. That covers the full $1,921 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Los Chaves, 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.