The 10 Best Places To Buy A House In New Mexico For 2022


Using science and data, we can tell you which places in New Mexico have seen home prices rising and people flocking over the past year.

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Editor’s note: This is not investment advice and we are not financial advisers. Article updated for 2022.

There's a the age old question everyone thinks about when they decide to move to a city in New Mexico:

Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in New Mexico, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Land of Enchantment.

To do that we are going to look at places in New Mexico that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in New Mexico at the moment? That would be Truth or Consequences according to our analysis.

Here's a look at the top ten places to buy a home in New Mexico for 2022.

The 10 Best Places To Buy A Home In New Mexico For 2022

  1. Truth or Consequences
  2. Taos
  3. Raton
  4. Edgewood
  5. Los Ranchos de Albuquerque
  6. Aztec
  7. Belen
  8. Bloomfield
  9. Ruidoso
  10. Socorro

What's the best place to buy a home in New Mexico for 2022? According to our analysis, would the the ideal place to buy a home looking into the future.

The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in New Mexico and, for those of you on a budget, the cheapest places to live in New Mexico.

For more New Mexico reading, check out:

The 10 Best Cities To Buy A House In New Mexico For 2022

1. Truth Or Consequences

Truth Or Consequences, NM

Source: Public domain
Overall SnackAbility

3
/10

Population: 5,839
Median Home Price: $84,300
Population Change: -0.9%
Home Price Change: -1.2%
More on Truth Or Consequences: Photos | Homes For Sale | Data

2. Taos

Taos, NM

Source: Wikipedia User Zeality | GFDL
Overall SnackAbility

4
/10

Population: 5,950
Median Home Price: $284,100
Population Change: -0.3%
Home Price Change: 8.9%
More on Taos: Photos | Homes For Sale | Data

3. Raton

Raton, NM

Source: Wikipedia User Billy Hathorn | CC BY-SA 3.0
Overall SnackAbility

6
/10

Population: 6,020
Median Home Price: $91,300
Population Change: -0.4%
Home Price Change: 9.1%
More on Raton: Photos | Homes For Sale | Data

4. Edgewood

Edgewood, NM

Source: Public domain
Overall SnackAbility

5
/10

Population: 6,113
Median Home Price: $192,400
Population Change: 0.7%
Home Price Change: -0.9%
More on Edgewood: Photos | Homes For Sale | Data

5. Los Ranchos De Albuquerque

Los Ranchos De Albuquerque, NM

Source: Wikipedia User John Phelan | CC BY 3.0
Overall SnackAbility

7
/10

Population: 6,120
Median Home Price: $435,400
Population Change: 0.1%
Home Price Change: -2.7%
More on Los Ranchos De Albuquerque: Photos | Homes For Sale | Data

6. Aztec

Aztec, NM

Source: Public domain
Overall SnackAbility

6
/10

Population: 6,467
Median Home Price: $160,000
Population Change: -1.0%
Home Price Change: 3.0%
More on Aztec: Photos | Homes For Sale | Data

7. Belen

Belen, NM

Source: Public domain
Overall SnackAbility

3
/10

Population: 7,476
Median Home Price: $105,200
Population Change: 1.0%
Home Price Change: -1.2%
More on Belen: Photos | Homes For Sale | Data

8. Bloomfield

Bloomfield, NM

Source: Public domain
Overall SnackAbility

5
/10

Population: 7,791
Median Home Price: $147,300
Population Change: -0.7%
Home Price Change: -1.3%
More on Bloomfield: Photos | Homes For Sale | Data

9. Ruidoso

Ruidoso, NM

Source: Public domain
Overall SnackAbility

5
/10

Population: 7,879
Median Home Price: $204,900
Population Change: 1.1%
Home Price Change: 13.4%
More on Ruidoso: Photos | Homes For Sale | Data

10. Socorro

Socorro, NM

Source: Public domain
Overall SnackAbility

6
/10

Population: 8,406
Median Home Price: $135,700
Population Change: -0.6%
Home Price Change: 0.1%
More on Socorro: Photos | Homes For Sale | Data

Methodology: How do you determine the best places to buy a home in New Mexico for 2022?

We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.

So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in New Mexico. Put differently, the analysis will try to find places in New Mexico with undervalued homes relative to pent up demand.

Richest Cities In New Mexico

To do that we looked at the most recent American Community Survey Census data for 2016-2020 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:

  • Y-o-Y Change In Population (People want to live here)
  • Y-o-Y Change In Median Home Prices (People are willing to pay for it)
  • Home Prices Relative To The State Average (It's still kinda cheap)

We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for New Mexico with the following caveats:

So of the 0 cities and towns in New Mexico, only 33 places made it through our initial filters to even be considered.

We then ranked each place from 1 to 33 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.

Turns out that Truth or Consequences is the best potential gem in the not-so-rough in the Land of Enchantment.

Read on for more on these places.

Summary: The Best Places To Purchase A House In New Mexico for 2022

There's our analysis of the best places to buy a house in New Mexico. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.

In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.

So if we'd could rent or buy in these cities, we'd definitely buy.

For more New Mexico reading, check out:

Home Prices By City In New Mexico

City Rank Median Home Price Population Change Home Price Increase
Truth Or Consequences 1 $84,300 -0.9% -1.2%
Taos 2 $284,100 -0.3% 8.9%
Raton 3 $91,300 -0.4% 9.1%
Edgewood 4 $192,400 0.7% -0.9%
Los Ranchos De Albuquerque 5 $435,400 0.1% -2.7%
Aztec 6 $160,000 -1.0% 3.0%
Belen 7 $105,200 1.0% -1.2%
Bloomfield 8 $147,300 -0.7% -1.3%
Ruidoso 9 $204,900 1.1% 13.4%
Socorro 10 $135,700 -0.6% 0.1%
Corrales 11 $437,500 0.6% -2.3%
Grants 12 $103,600 -0.5% 1.7%
Anthony 13 $93,500 -0.3% -9.9%
Silver City 14 $139,600 -1.0% 3.9%
Bernalillo 15 $167,000 4.2% 3.5%
Lovington 16 $121,000 -0.8% 3.6%
Portales 17 $117,100 -1.2% 0.8%
Artesia 18 $185,500 1.6% 4.3%
Las Vegas 19 $121,700 -0.9% 3.5%
Deming 20 $88,200 -0.4% -7.4%
Los Lunas 21 $172,200 1.4% 7.0%
Sunland Park 22 $130,200 2.9% 17.2%
Gallup 23 $135,500 -1.0% 2.7%
Carlsbad 24 $150,300 0.4% 6.4%
Alamogordo 25 $125,400 0.8% 10.5%
Hobbs 26 $144,000 0.3% 2.4%
Clovis 27 $132,300 -0.5% 5.3%
Farmington 28 $188,500 -0.6% 0.9%
Roswell 29 $110,000 -0.4% 4.7%
Santa Fe 30 $290,800 0.6% 3.6%
Rio Rancho 31 $200,800 1.8% 5.2%
Las Cruces 32 $161,100 0.8% 3.8%
Albuquerque 33 $204,100 0.2% 3.0%
Download The Entire New Mexico Ranking Data

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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