The typical owner-occupied home in Reserve is worth about $123,200, 50% below the New Mexico median of $248,100 and 63% below the national median of $332,700. Owners pay a median $495 a year in property taxes, about 0.40% of their home's value, lower than the New Mexico rate of 0.70%. 100% of occupied homes here are lived in by their owners, and 17% of those owners still have a mortgage.
Reserve at a glance
| Reserve | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $123,200 | $248,100 | $332,700 |
| Median property tax paid per year | $495 | $1,731 | $3,119 |
| Property tax as a share of value | 0.40% | 0.70% | 0.94% |
| Median household income | – | $64,059 | $80,734 |
| Homes lived in by their owners | 100% | 70% | 65% |
| Owner homes with a mortgage | 17% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,356 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 14.7% | 20.6% | 21.0% |
| Median rent | – | $1,067 | $1,413 |
| Median year homes were built | 1966 | 1985 | 1980 |
| Vacant homes | 54.2% | 12.5% | 10.1% |
| Population | 402 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Reserve
At this week's average 30-year rate of 7.11%, buying the median Reserve home of $123,200 with 20% down costs about $755 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $961, 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 $32,375 for the 20%-down payment.
| Down payment | $24,640 |
|---|---|
| Loan amount | $98,560 |
| Principal and interest | $663 |
| Property taxes (0.40% a year) | $41 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $755 |
Change the numbers in the calculator
| Down payment | $4,312 |
|---|---|
| Loan amount | $120,969 |
| Principal and interest | $814 |
| Property taxes (0.40% a year) | $41 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $961 |
Change the numbers in the calculator
Questions about home buying in Reserve
What is the median home value in Reserve?
About $123,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Reserve?
Homeowners pay a median $495 a year, which is about 0.40% 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 Reserve?
For the median home with 20% down at 7.11%, the payment is about $755 a month. Keeping that under 28% of gross income takes about $32,375 a year.
More about Reserve
- Mortgage Refinance in Reserve
- Debt Relief in Reserve
- Home Equity Loans in Reserve
- 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