Looking to find affordable housing in the Land of Enchantment? According to the Zillow Home Value Index, New Mexico offers some surprisingly affordable options across the state, with dramatic variations in price points. The data reveals a fascinating trend: while many of New Mexico’s smallest towns maintain exceptionally low housing costs, several have experienced remarkable growth over the past five years despite remaining affordable relative to state averages.
You might be surprised to learn that the average appreciation rate across New Mexico towns over the five-year period from 2020 to 2025 was 41.55%, showing the state’s increasing desirability despite being less expensive than neighboring Colorado and Arizona. However, this growth hasn’t been universal – while some towns like Garfield have seen values surge by over 63% since 2020, others like Lovington have actually depreciated by nearly 26% in the same period.
As you explore these communities, you’ll notice many are located in the state’s eastern plains or southwestern mining regions, areas traditionally less visited by tourists but rich in history and cultural heritage. While the state median home value sits at $250,612 in 2025, each of these 25 towns offers homes at significantly lower price points, with the most affordable hovering below $80,000.
1. Garfield
- 2025 Home Value: $173,031
- 2020 Home Value: $106,061
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 63.14%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
In the fertile Hatch Valley of Doña Ana County, the agricultural community of Garfield demonstrates the most dramatic five-year growth among New Mexico’s affordable towns. You’ll find homes averaging $173,031 in 2025, representing an extraordinary 63.14% increase from 2020 values of just $106,061. This remarkable appreciation likely reflects growing interest in the region known worldwide for its famous chile peppers. Despite this explosive growth rate, housing remains affordable compared to nearby Las Cruces and certainly to neighboring states.
2. Socorro
- 2025 Home Value: $171,435
- 2020 Home Value: $143,096
- 2015 Home Value: $142,083
- 2010 Home Value: N/A
- % Change 2020-2025: 19.80%
- % Change 2015-2025: 20.66%
- % Change 2010-2025: N/A
Along the Rio Grande in central New Mexico, Socorro County’s Socorro combines educational resources with affordability. You’ll find homes averaging $171,435 in 2025, representing a solid 19.80% increase since 2020 and 20.66% growth from 2015. The data shows relatively flat values between 2015-2020, followed by stronger growth in recent years. Socorro’s location along Interstate 25 provides easy access to Albuquerque while maintaining significantly lower housing costs.
3. Caballo
- 2025 Home Value: $164,330
- 2020 Home Value: $139,188
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 18.06%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Nestled along the shores of Caballo Lake in Sierra County, the community of Caballo presents a lakeside living opportunity at affordable prices. You’ll find homes averaging $164,330 in 2025, representing a solid 18.06% increase from 2020 values. The community’s modest but steady growth reflects increasing interest in waterfront properties throughout the Southwest, though Caballo remains remarkably affordable compared to similar recreational communities in neighboring states.
4. Reserve
- 2025 Home Value: $160,751
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
In one of New Mexico’s most remote locations, Catron County’s Reserve offers truly rural living at affordable prices. You’ll find homes averaging $160,751 in 2025 in this small community surrounded by the vast Gila National Forest. While historical comparison data isn’t available, Reserve’s current pricing reflects its position as the service center for New Mexico’s largest and least populated county. The town’s affordability reflects both its remote location and minimal amenities, offering a true off-the-beaten-path experience at prices well below state averages.
5. Arenas Valley
- 2025 Home Value: $157,052
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Just east of Silver City in Grant County, the small community of Arenas Valley offers you homes averaging $157,052 in 2025. While historical comparison data isn’t available, this unincorporated community provides access to Silver City’s amenities at significantly lower price points. The community’s current pricing, nearly $100,000 below the state median, makes it an attractive option for those seeking the cultural and recreational amenities of the Silver City area combined with the affordability and quieter pace of a rural residential setting.
6. Lovington
- 2025 Home Value: $156,508
- 2020 Home Value: $210,541
- 2015 Home Value: $171,045
- 2010 Home Value: N/A
- % Change 2020-2025: -25.66%
- % Change 2015-2025: -8.50%
- % Change 2010-2025: N/A
The southeastern New Mexico town of Lovington in Lea County presents perhaps the most dramatic market shift of any community on this list. You’ll find homes averaging $156,508 in 2025, which represents a substantial 25.66% decrease from 2020 values and an 8.50% decline since 2015. For potential buyers, Lovington’s current pricing following this significant correction may represent value opportunity in a market that previously commanded much higher values.
7. Mountainair
- 2025 Home Value: $154,978
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Perched in the Manzano Mountains east of Albuquerque, Torrance County’s Mountainair offers you a unique mountain community experience at affordable prices. With homes averaging $154,978 in 2025, this arts-focused small town provides access to the Albuquerque metro area while maintaining significantly lower housing costs. While historical comparison data isn’t available, Mountainair’s current pricing places it among New Mexico’s most affordable mountain communities.
8. Clovis
- 2025 Home Value: $154,599
- 2020 Home Value: $135,863
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 13.79%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
On New Mexico’s eastern border with Texas, Curry County’s Clovis shows moderate recent growth while maintaining affordability. You’ll find homes averaging $154,599 in 2025, representing a modest 13.79% increase from 2020 values. This agricultural and military community, home to Cannon Air Force Base, provides more urban amenities than many towns on this list as the largest city in eastern New Mexico. Clovis’ growth rate, while positive, falls below the state average, potentially reflecting the stable but not booming nature of its agricultural and military-based economy.
9. Roswell
- 2025 Home Value: $152,358
- 2020 Home Value: $122,839
- 2015 Home Value: $100,431
- 2010 Home Value: $101,198
- % Change 2020-2025: 24.03%
- % Change 2015-2025: 51.70%
- % Change 2010-2025: 50.55%
The internationally famous city of Roswell in Chaves County offers long-term appreciation while maintaining relative affordability. You’ll find homes averaging $152,358 in 2025, which represents a 24.03% increase since 2020, but more impressively, a 50.55% growth from 2010 and 51.70% from 2015. The city’s consistent appreciation over fifteen years suggests steady growth rather than dramatic spikes, potentially offering you both stability and affordability in a community with name recognition and established infrastructure.
10. Williamsburg
- 2025 Home Value: $151,613
- 2020 Home Value: $109,845
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 38.02%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Just north of Truth or Consequences in Sierra County, the small community of Williamsburg demonstrates strong recent growth in its housing market. You’ll find homes averaging $151,613 in 2025, representing a healthy 38.02% increase since 2020 when values averaged $109,845. Williamsburg’s growth pattern closely mirrors that of Truth or Consequences, suggesting regional appreciation rather than just city-specific factors. Despite this substantial five-year growth, the community remains affordable compared to state averages, potentially offering you the benefits of a growing market in a smaller, quieter setting while still providing access to the hot springs, lake recreation, and services of the broader area.
11. Truth or Consequences
- 2025 Home Value: $146,604
- 2020 Home Value: $101,120
- 2015 Home Value: $99,332
- 2010 Home Value: N/A
- % Change 2020-2025: 44.98%
- % Change 2015-2025: 47.59%
- % Change 2010-2025: N/A
The uniquely named spa town of Truth or Consequences in Sierra County shows remarkable growth while maintaining affordability. You’ll find homes averaging $146,604 in 2025, representing an impressive 44.98% increase since 2020 and an even more substantial 47.59% growth from 2015. Despite nearly doubling its values over a decade, “T or C” remains highly affordable compared to state averages, offering an attractive combination of growth potential, natural amenities, and distinctive character.
12. Deming
- 2025 Home Value: $145,465
- 2020 Home Value: $115,543
- 2015 Home Value: $122,737
- 2010 Home Value: N/A
- % Change 2020-2025: 25.90%
- % Change 2015-2025: 18.52%
- % Change 2010-2025: N/A
In southwestern New Mexico’s Luna County, Deming presents steady growth in its housing market while remaining highly affordable. You’ll find homes averaging $145,465 in 2025, representing a healthy 25.90% increase since 2020 and an 18.52% growth from 2015. Interestingly, the data shows a dip in values between 2015-2020 before a strong recovery in recent years. Deming’s consistent upward trend since 2020 suggests growing interest in this affordable alternative to higher-priced Las Cruces and Silver City, while still providing access to similar southwestern landscapes and outdoor recreation opportunities.
13. Grants
- 2025 Home Value: $140,938
- 2020 Home Value: $98,216
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 43.50%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Along Interstate 40 in western New Mexico, Cibola County’s Grants demonstrates impressive recent growth while maintaining affordability. You’ll find homes averaging $140,938 in 2025, a significant 43.50% increase from $98,216 in 2020. Despite this substantial five-year appreciation, housing remains accessible at prices well below state averages, potentially offering you both affordability and growth potential in a community positioned along a major interstate corridor.
14. Raton
- 2025 Home Value: $140,057
- 2020 Home Value: $99,561
- 2015 Home Value: $97,133
- 2010 Home Value: $110,266
- % Change 2020-2025: 40.67%
- % Change 2015-2025: 44.19%
- % Change 2010-2025: 27.02%
The historic mountain gateway town of Raton in Colfax County shows remarkable recent growth in its housing market. You’ll find homes averaging $140,057 in 2025, representing a substantial 40.67% increase from 2020 values and an even more impressive 44.19% growth since 2015. Despite this strong growth, Raton remains highly affordable relative to both New Mexico averages and neighboring Colorado communities.
15. Carrizozo
- 2025 Home Value: $136,839
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Nestled at the base of the Sacramento Mountains in Lincoln County, Carrizozo offers you homes averaging $136,839 in 2025. While historical comparison data isn’t available, this former railroad town within the Ruidoso metropolitan area provides excellent affordability compared to its more expensive neighbors in the mountains.
16. Portales
- 2025 Home Value: $134,338
- 2020 Home Value: $125,715
- 2015 Home Value: $142,271
- 2010 Home Value: $148,622
- % Change 2020-2025: 6.86%
- % Change 2015-2025: -5.58%
- % Change 2010-2025: -9.61%
The eastern New Mexico town of Portales in Roosevelt County presents an intriguing historical pattern in its housing values. You’ll find average home prices of $134,338 in 2025, which represents a modest 6.86% increase from 2020, but actually marks a 9.61% decrease from 2010 values and a 5.58% decrease from 2015. This college town, home to Eastern New Mexico University, has experienced fluctuating values over the past fifteen years but appears to be on a recovery trajectory since 2020.
17. Eunice
- 2025 Home Value: $126,541
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Another Lea County community in southeastern New Mexico, Eunice provides you with affordable housing averaging $126,541 in 2025. Though historical data points aren’t available for comparison, this energy-sector town in the Hobbs metro area maintains housing costs significantly below state medians. Despite its remote location, Eunice maintains a distinct New Mexico character while offering housing at price points increasingly difficult to find in the Southwest.
18. Jal
- 2025 Home Value: $116,462
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
In the southeastern corner of New Mexico, Lea County’s Jal offers you housing at an average of $116,462 in 2025. While historical comparison data isn’t available, this oil and gas town near the Texas border provides significant affordability compared to state averages. TJal’s housing market likely reflects the cyclical nature of the energy industry, though its current pricing remains attractive for those seeking affordable options in the Hobbs metropolitan area.
19. Dexter
- 2025 Home Value: $110,284
- 2020 Home Value: $127,483
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: -13.49%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Just south of Roswell in Chaves County, Dexter presents an interesting anomaly in the housing data. You’ll find homes averaging $110,284 in 2025, which represents a 13.49% decrease from 2020 values of $127,483. This agricultural community in the Pecos Valley is one of the few affordable towns showing depreciation rather than growth over the five-year period. Dexter’s housing market contraction runs counter to most New Mexico trends, potentially offering buying opportunities if the market eventually rebounds. Despite the recent decline, the town remains affordable compared to state averages and provides access to the larger Roswell metro area while maintaining its distinctive rural character in New Mexico’s southeastern region.
20. Hurley
- 2025 Home Value: $107,150
- 2020 Home Value: $67,580
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 58.55%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
A remarkable success story emerges from Hurley, located in Grant County’s mining district within the Silver City metro area. You’ll find homes averaging $107,150 in 2025, representing an extraordinary 58.55% increase from 2020’s average of $67,580. This dramatic appreciation over just five years ranks among the highest for affordable New Mexico communities. The former company town, originally built for Chino Mines employees, has successfully transitioned beyond its mining roots while retaining its affordability relative to state averages. Hurley’s strong growth trajectory suggests increasing interest in this small community, potentially offering you both affordability and promising investment prospects in southwestern New Mexico.
21. Clayton
- 2025 Home Value: $96,654
- 2020 Home Value: $71,563
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 35.06%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
The northeastern town of Clayton in Union County presents you with highly affordable housing at an average of $96,654 in 2025. Home values have appreciated significantly, rising 35.06% from $71,563 in 2020. The town offers a genuine small-town New Mexico experience with housing costs well below the state median.
22. Bayard
- 2025 Home Value: $89,826
- 2020 Home Value: $64,021
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: 40.31%
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Situated in the mining district of Grant County, Bayard gives you access to homes averaging just $89,826 in 2025, making it the fourth most affordable town in New Mexico. The data shows impressive growth of 40.31% since 2020, when average values were only $64,021.
23. Fort Sumner
- 2025 Home Value: $82,342
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
In the eastern plains of New Mexico, De Baca County’s Fort Sumner offers you remarkably affordable housing with average values at $82,342 in 2025. While historical data points aren’t available for detailed comparison, the town’s current pricing makes it the third most affordable in the state.
24. Santa Clara
- 2025 Home Value: $78,121
- 2020 Home Value: N/A
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2020-2025: N/A
- % Change 2015-2025: N/A
- % Change 2010-2025: N/A
Nestled in Grant County near the historic mining district of Santa Rita, Santa Clara provides you with exceptional affordability at just $78,121 for the average home in 2025. Unfortunately, historical comparison data isn’t available for this village, but its current pricing places it as the second most affordable community in New Mexico.
25. Tucumcari
- 2025 Home Value: $77,997
- 2020 Home Value: $55,357
- 2015 Home Value: $58,003
- 2010 Home Value: N/A
- % Change 2020-2025: 40.90%
- % Change 2015-2025: 34.47%
- % Change 2010-2025: N/A
Located along historic Route 66 in eastern New Mexico’s Quay County, Tucumcari offers you the most affordable housing in the entire state. The town’s home values have seen impressive growth, increasing nearly 41% from $55,357 in 2020 to $77,997 in 2025. Looking back a decade, the growth is even more substantial, with values rising over 34% since 2015.
