Total monthly cost of ownership
Cost to Own a Home in Spencerville, New Mexico
A $255,000 home here costs
$1,924per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,311. The real number is $613 higher every month — 47% 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.
Spencerville against San Juan County and New Mexico
| Measure | Spencerville | San Juan County |
|---|---|---|
| Median home value | $255,400 | $185,100 |
| Median property tax | $1,123 | $1,249 |
| Effective tax rate | 0.440% | 0.675% |
| Median gross rent | $1,169 | $917 |
| Population | 1,100 | 121,178 |
The weather behind that power bill
Spencerville sits in San Juan County, which averages a high of 93.3°F in its hottest month and a low of 19.2°F in its coldest, with 7.76" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 995 cooling and 5,268 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for San Juan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in San Juan County
Full San Juan County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Spencerville?
A $255,000 home in Spencerville, New Mexico costs approximately $1,924 per month with 20% down at 6.66%. That is $1,311 principal and interest, $94 property tax, $112 homeowners insurance, $195 utilities and $213 set aside for maintenance.
What is the property tax rate in Spencerville?
Spencerville has an effective property tax rate of 0.440%, based on a median home value of $255,400 and median real estate taxes of $1,123. That is lower than the San Juan County average of 0.675%.
What is the average home price in Spencerville?
The median owner-occupied home value in Spencerville, New Mexico is $255,400, against $185,100 across San Juan County.
Is it cheaper to rent or buy in Spencerville?
Median gross rent in Spencerville is $1,169 a month, against $1,924 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 Spencerville — 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.