The typical owner-occupied home in San Miguel is worth about $116,500, 53% below the New Mexico median of $248,100 and 65% below the national median of $332,700. Owners pay a median $1,039 a year in property taxes, about 0.89% of their home's value, higher than the New Mexico rate of 0.70%. The median household earns $55,145 a year, so the median home costs 2.1 times the median income (3.9 times for New Mexico). 100% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
San Miguel at a glance
| San Miguel | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $116,500 | $248,100 | $332,700 |
| Median property tax paid per year | $1,039 | $1,731 | $3,119 |
| Property tax as a share of value | 0.89% | 0.70% | 0.94% |
| Median household income | $55,145 | $64,059 | $80,734 |
| Homes lived in by their owners | 100% | 70% | 65% |
| Owner homes with a mortgage | 32% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,099 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 20.6% | 21.0% |
| Median rent | – | $1,067 | $1,413 |
| Median year homes were built | 1973 | 1985 | 1980 |
| Vacant homes | 32.9% | 12.5% | 10.1% |
| Population | 772 | 2,120,246 | 334,922,499 |
What a typical home costs per month in San Miguel
At this week's average 30-year rate of 7.11%, buying the median San Miguel home of $116,500 with 20% down costs about $762 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $956, 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 $32,653 for the 20%-down payment. That payment is 17% of the median San Miguel household income of $55,145; at that income and 20% down, the 28% guideline points to a home of about $197,000.
| Down payment | $23,300 |
|---|---|
| Loan amount | $93,200 |
| Principal and interest | $627 |
| Property taxes (0.89% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $762 |
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| Down payment | $4,078 |
|---|---|
| Loan amount | $114,390 |
| Principal and interest | $770 |
| Property taxes (0.89% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $956 |
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Questions about home buying in San Miguel
What is the median home value in San Miguel?
About $116,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in San Miguel?
Homeowners pay a median $1,039 a year, which is about 0.89% 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 San Miguel?
For the median home with 20% down at 7.11%, the payment is about $762 a month. Keeping that under 28% of gross income takes about $32,653 a year.
More about San Miguel
- Mortgage Refinance in San Miguel
- Debt Relief in San Miguel
- Home Equity Loans in San Miguel
- 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