Total monthly cost of ownership
Cost to Own a Home in Raton, New Mexico
A $148,000 home here costs
$1,213per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $761. The real number is $452 higher every month — 59% 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.
Raton against Colfax County and New Mexico
| Measure | Raton | Colfax County |
|---|---|---|
| Median home value | $148,200 | $161,000 |
| Median property tax | $831 | $927 |
| Effective tax rate | 0.561% | 0.576% |
| Median gross rent | $734 | $704 |
| Population | 6,013 | 12,336 |
The weather behind that power bill
Raton sits in Colfax County, which averages a high of 86.2°F in its hottest month and a low of 11.9°F in its coldest, with 14.07" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 328 cooling and 6,233 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Colfax County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Colfax County
Full Colfax County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Raton?
A $148,000 home in Raton, New Mexico costs approximately $1,213 per month with 20% down at 6.66%. That is $761 principal and interest, $69 property tax, $65 homeowners insurance, $195 utilities and $123 set aside for maintenance.
What is the property tax rate in Raton?
Raton has an effective property tax rate of 0.561%, based on a median home value of $148,200 and median real estate taxes of $831. That is lower than the Colfax County average of 0.576%.
What is the average home price in Raton?
The median owner-occupied home value in Raton, New Mexico is $148,200, against $161,000 across Colfax County.
Is it cheaper to rent or buy in Raton?
Median gross rent in Raton is $734 a month, against $1,213 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 Raton — 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.