The typical owner-occupied home in Dexter is worth about $97,500, 61% below the New Mexico median of $248,100 and 71% below the national median of $332,700. Owners pay a median $399 a year in property taxes, about 0.41% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $43,846 a year, so the median home costs 2.2 times the median income (3.9 times for New Mexico). 77% of occupied homes here are lived in by their owners, and 22% of those owners still have a mortgage.
Dexter at a glance
| Dexter | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $97,500 | $248,100 | $332,700 |
| Median property tax paid per year | $399 | $1,731 | $3,119 |
| Property tax as a share of value | 0.41% | 0.70% | 0.94% |
| Median household income | $43,846 | $64,059 | $80,734 |
| Homes lived in by their owners | 77% | 70% | 65% |
| Owner homes with a mortgage | 22% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,139 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 26.1% | 20.6% | 21.0% |
| Median rent | $673 | $1,067 | $1,413 |
| Rent as a share of renters' income | 30.5% | 30.1% | 30.6% |
| Median year homes were built | 1988 | 1985 | 1980 |
| Vacant homes | 12.1% | 12.5% | 10.1% |
| Population | 1,128 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Dexter
At this week's average 30-year rate of 7.11%, buying the median Dexter home of $97,500 with 20% down costs about $599 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $761, 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 $25,656 for the 20%-down payment. That payment is 16% of the median Dexter household income of $43,846; at that income and 20% down, the 28% guideline points to a home of about $167,000.
The median rent here is $673 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,500 |
|---|---|
| Loan amount | $78,000 |
| Principal and interest | $525 |
| Property taxes (0.41% a year) | $33 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $599 |
Change the numbers in the calculator
| Down payment | $3,412 |
|---|---|
| Loan amount | $95,734 |
| Principal and interest | $644 |
| Property taxes (0.41% a year) | $33 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $761 |
Change the numbers in the calculator
Questions about home buying in Dexter
What is the median home value in Dexter?
About $97,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dexter?
Homeowners pay a median $399 a year, which is about 0.41% 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 Dexter?
For the median home with 20% down at 7.11%, the payment is about $599 a month. Keeping that under 28% of gross income takes about $25,656 a year.
More about Dexter
- Mortgage Refinance in Dexter
- Debt Relief in Dexter
- Home Equity Loans in Dexter
- 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