Total monthly cost of ownership
Cost to Own a Home in Truth or Consequences, New Mexico
A $108,000 home here costs
$957per 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 $41,000 a year.
A standard mortgage calculator would have told you $589. The real number is $368 higher every month, 63% more than the payment most buyers budget for.
Compare Sierra 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.
Truth or Consequences against Sierra County and New Mexico
| Measure | Truth or Consequences | Sierra County |
|---|---|---|
| Median home value | $107,500 | $144,800 |
| Median property tax | $655 | $793 |
| Effective tax rate | 0.609% | 0.548% |
| Median gross rent | $676 | $695 |
| Population | 6,026 | 11,511 |
The weather behind that power bill
Truth or Consequences sits in Sierra County, which averages a high of 95.9°F in its hottest month and a low of 30.0°F in its coldest, with 9.89" of precipitation a year and 56% of it in a single three-month stretch. That climate drives 2,209 cooling and 2,774 heating degree days, which is what sets the $108 electricity line above.
See the full climate breakdown for Sierra County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sierra County
Full Sierra County cost breakdown · Every county in New Mexico
Talk to someone who works this market
These are Truth or Consequences 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 Truth or Consequences every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Truth or Consequences I already own here and may sell
Common questions
How much does it cost to own a home in Truth or Consequences?
A $108,000 home in Truth or Consequences, New Mexico costs approximately $957 per month with 20% down at 7.24%. That is $589 principal and interest, $55 property tax, $47 homeowners insurance, $176 utilities and $90 set aside for maintenance.
What is the property tax rate in Truth or Consequences?
Truth or Consequences has an effective property tax rate of 0.609%, based on a median home value of $107,500 and median real estate taxes of $655. That is higher than the Sierra County average of 0.548%.
What is the average home price in Truth or Consequences?
The median owner-occupied home value in Truth or Consequences, New Mexico is $107,500, against $144,800 across Sierra County.
Is it cheaper to rent or buy in Truth or Consequences?
Median gross rent in Truth or Consequences is $676 a month, against $957 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 Truth or Consequences?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Truth or Consequences, New Mexico at today's rate takes a household income of roughly $41,000 a year. That covers the full $957 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Truth or Consequences, 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.