Total monthly cost of ownership
Cost to Own a Home in Ohkay Owingeh, New Mexico
A $2,000,000 home here costs
$14,345per 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 $615,000 a year.
A standard mortgage calculator would have told you $10,904. The real number is $3,441 higher every month, 32% more than the payment most buyers budget for.
Compare Rio Arriba County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ohkay Owingeh from a five-year rolling sample, and with about 1,178 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 Rio Arriba 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.
Ohkay Owingeh against Rio Arriba County and New Mexico
| Measure | Ohkay Owingeh | Rio Arriba County |
|---|---|---|
| Median home value | $2,000,000+ | $230,900 |
| Median property tax | $833 | $1,000 |
| Effective tax rate | 0.433% | 0.433% |
| Median gross rent | $421 | $760 |
| Population | 1,178 | 40,165 |
The weather behind that power bill
Ohkay Owingeh sits in Rio Arriba County, which averages a high of 84.6°F in its hottest month and a low of 8.6°F in its coldest, with 14.13" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 147 cooling and 7,510 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Rio Arriba County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rio Arriba County
Full Rio Arriba County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Ohkay Owingeh 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 Ohkay Owingeh every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ohkay Owingeh I already own here and may sell
Common questions
How much does it cost to own a home in Ohkay Owingeh?
A $2,000,000 home in Ohkay Owingeh, New Mexico costs approximately $14,345 per month with 20% down at 7.24%. That is $10,904 principal and interest, $722 property tax, $877 homeowners insurance, $176 utilities and $1,667 set aside for maintenance.
What is the property tax rate in Ohkay Owingeh?
Place-level tax data is not published for Ohkay Owingeh, so the Rio Arriba County rate of 0.433% applies here.
What is the average home price in Ohkay Owingeh?
The median owner-occupied home value in Ohkay Owingeh, New Mexico is above $2 million (the Census reporting cap), against $230,900 across Rio Arriba County.
Is it cheaper to rent or buy in Ohkay Owingeh?
Median gross rent in Ohkay Owingeh is $421 a month, against $14,345 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 Ohkay Owingeh?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ohkay Owingeh, New Mexico at today's rate takes a household income of roughly $615,000 a year. That covers the full $14,345 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ohkay Owingeh, 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.