The typical owner-occupied home in Otero County is worth about $168,900, 69% below the Colorado median of $539,400 and 49% below the national median of $332,700. Owners pay a median $520 a year in property taxes, about 0.31% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $54,037 a year, so the median home costs 3.1 times the median income (5.6 times for Colorado). 69% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Otero County at a glance
| Otero County | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $168,900 | $539,400 | $332,700 |
| Median property tax paid per year | $520 | $2,602 | $3,119 |
| Property tax as a share of value | 0.31% | 0.48% | 0.94% |
| Median household income | $54,037 | $95,470 | $80,734 |
| Homes lived in by their owners | 69% | 66% | 65% |
| Owner homes with a mortgage | 50% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,370 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 23.0% | 22.1% | 21.0% |
| Median rent | $839 | $1,761 | $1,413 |
| Rent as a share of renters' income | 29.0% | 31.4% | 30.6% |
| Median year homes were built | 1958 | 1988 | 1980 |
| Vacant homes | 13.3% | 8.3% | 10.1% |
| Population | 18,321 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Otero County
At this week's average 30-year rate of 7.11%, buying the median Otero County home of $168,900 with 20% down costs about $1,023 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,304, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $43,842 for the 20%-down payment. That payment is 23% of the median Otero County household income of $54,037; at that income and 20% down, the 28% guideline points to a home of about $208,000.
The median rent here is $839 a month, so owning the median home costs about $184 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,780 |
|---|---|
| Loan amount | $135,120 |
| Principal and interest | $909 |
| Property taxes (0.31% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,023 |
Change the numbers in the calculator
| Down payment | $5,912 |
|---|---|
| Loan amount | $165,841 |
| Principal and interest | $1,116 |
| Property taxes (0.31% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $75 |
| Total per month | $1,304 |
Change the numbers in the calculator
Questions about home buying in Otero County
What is the median home value in Otero County?
About $168,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Otero County?
Homeowners pay a median $520 a year, which is about 0.31% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Otero County?
For the median home with 20% down at 7.11%, the payment is about $1,023 a month. Keeping that under 28% of gross income takes about $43,842 a year.
More about Otero County
- Mortgage Refinance in Otero County
- Debt Relief in Otero County
- Home Equity Loans in Otero County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data