Total monthly cost of ownership
Cost to Own a Home in Ruidoso, New Mexico
A $229,000 home here costs
$1,825per 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 $78,000 a year.
A standard mortgage calculator would have told you $1,249. The real number is $577 higher every month, 46% more than the payment most buyers budget for.
Compare Lincoln County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ruidoso against Lincoln County and New Mexico
| Measure | Ruidoso | Lincoln County |
|---|---|---|
| Median home value | $229,100 | $212,200 |
| Median property tax | $1,315 | $1,143 |
| Effective tax rate | 0.574% | 0.539% |
| Median gross rent | $924 | $883 |
| Population | 7,701 | 20,227 |
The weather behind that power bill
Ruidoso sits in Lincoln County, which averages a high of 86.6°F in its hottest month and a low of 23.9°F in its coldest, with 16.56" of precipitation a year and 52% of it in a single three-month stretch. That climate drives 445 cooling and 4,600 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Lincoln County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Full Lincoln County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Ruidoso 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 Ruidoso every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ruidoso I already own here and may sell
Common questions
How much does it cost to own a home in Ruidoso?
A $229,000 home in Ruidoso, New Mexico costs approximately $1,825 per month with 20% down at 7.24%. That is $1,249 principal and interest, $110 property tax, $100 homeowners insurance, $176 utilities and $191 set aside for maintenance.
What is the property tax rate in Ruidoso?
Ruidoso has an effective property tax rate of 0.574%, based on a median home value of $229,100 and median real estate taxes of $1,315. That is higher than the Lincoln County average of 0.539%.
What is the average home price in Ruidoso?
The median owner-occupied home value in Ruidoso, New Mexico is $229,100, against $212,200 across Lincoln County.
Is it cheaper to rent or buy in Ruidoso?
Median gross rent in Ruidoso is $924 a month, against $1,825 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 Ruidoso?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ruidoso, New Mexico at today's rate takes a household income of roughly $78,000 a year. That covers the full $1,825 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ruidoso, 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.