Total monthly cost of ownership
Cost to Own a Home in Tucumcari, New Mexico
A $56,000 home here costs
$591per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $288. The real number is $303 higher every month — 105% 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.
Tucumcari against Quay County and New Mexico
| Measure | Tucumcari | Quay County |
|---|---|---|
| Median home value | $56,400 | $82,200 |
| Median property tax | $450 | $507 |
| Effective tax rate | 0.798% | 0.617% |
| Median gross rent | $751 | $752 |
| Population | 5,197 | 8,616 |
The weather behind that power bill
Tucumcari sits in Quay County, which averages a high of 95.0°F in its hottest month and a low of 23.6°F in its coldest, with 13.35" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 1,693 cooling and 3,827 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Quay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Quay County
No other places of this size are published in Quay County.
Full Quay County cost breakdown · Every county in New Mexico
Common questions
How much does it cost to own a home in Tucumcari?
A $56,000 home in Tucumcari, New Mexico costs approximately $591 per month with 20% down at 6.66%. That is $288 principal and interest, $37 property tax, $25 homeowners insurance, $195 utilities and $47 set aside for maintenance.
What is the property tax rate in Tucumcari?
Tucumcari has an effective property tax rate of 0.798%, based on a median home value of $56,400 and median real estate taxes of $450. That is higher than the Quay County average of 0.617%.
What is the average home price in Tucumcari?
The median owner-occupied home value in Tucumcari, New Mexico is $56,400, against $82,200 across Quay County.
Is it cheaper to rent or buy in Tucumcari?
Median gross rent in Tucumcari is $751 a month, against $591 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Tucumcari — 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.