The typical owner-occupied home in Cedar Crest is worth about $248,400, about the same as the New Mexico median of $248,100 and 25% below the national median of $332,700. Owners pay a median $1,569 a year in property taxes, about 0.63% of their home's value, lower than the New Mexico rate of 0.70%. 91% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Cedar Crest at a glance
| Cedar Crest | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $248,400 | $248,100 | $332,700 |
| Median property tax paid per year | $1,569 | $1,731 | $3,119 |
| Property tax as a share of value | 0.63% | 0.70% | 0.94% |
| Median household income | – | $64,059 | $80,734 |
| Homes lived in by their owners | 91% | 70% | 65% |
| Owner homes with a mortgage | 54% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,188 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 20.6% | 21.0% |
| Median rent | $932 | $1,067 | $1,413 |
| Rent as a share of renters' income | 40.5% | 30.1% | 30.6% |
| Median year homes were built | 1986 | 1985 | 1980 |
| Vacant homes | 5.0% | 12.5% | 10.1% |
| Population | 886 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Cedar Crest
At this week's average 30-year rate of 7.11%, buying the median Cedar Crest home of $248,400 with 20% down costs about $1,571 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,985, 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 $67,316 for the 20%-down payment.
The median rent here is $932 a month, so owning the median home costs about $639 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,680 |
|---|---|
| Loan amount | $198,720 |
| Principal and interest | $1,337 |
| Property taxes (0.63% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| PMI | $0 |
| Total per month | $1,571 |
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| Down payment | $8,694 |
|---|---|
| Loan amount | $243,901 |
| Principal and interest | $1,641 |
| Property taxes (0.63% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| FHA mortgage insurance | $110 |
| Total per month | $1,985 |
Change the numbers in the calculator
Questions about home buying in Cedar Crest
What is the median home value in Cedar Crest?
About $248,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cedar Crest?
Homeowners pay a median $1,569 a year, which is about 0.63% 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 Cedar Crest?
For the median home with 20% down at 7.11%, the payment is about $1,571 a month. Keeping that under 28% of gross income takes about $67,316 a year.
More about Cedar Crest
- Mortgage Refinance in Cedar Crest
- Debt Relief in Cedar Crest
- Home Equity Loans in Cedar Crest
- 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