The typical owner-occupied home in Santa Clara is worth about $141,500, 43% below the New Mexico median of $248,100 and 57% below the national median of $332,700. Owners pay a median $547 a year in property taxes, about 0.39% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $57,898 a year, so the median home costs 2.4 times the median income (3.9 times for New Mexico). 80% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Santa Clara at a glance
| Santa Clara | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $141,500 | $248,100 | $332,700 |
| Median property tax paid per year | $547 | $1,731 | $3,119 |
| Property tax as a share of value | 0.39% | 0.70% | 0.94% |
| Median household income | $57,898 | $64,059 | $80,734 |
| Homes lived in by their owners | 80% | 70% | 65% |
| Owner homes with a mortgage | 40% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $956 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 15.2% | 20.6% | 21.0% |
| Median rent | $543 | $1,067 | $1,413 |
| Rent as a share of renters' income | 29.3% | 30.1% | 30.6% |
| Median year homes were built | 1966 | 1985 | 1980 |
| Vacant homes | 19.0% | 12.5% | 10.1% |
| Population | 1,809 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Santa Clara
At this week's average 30-year rate of 7.11%, buying the median Santa Clara home of $141,500 with 20% down costs about $866 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,102, 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 $37,134 for the 20%-down payment. That payment is 18% of the median Santa Clara household income of $57,898; at that income and 20% down, the 28% guideline points to a home of about $221,000.
The median rent here is $543 a month, so owning the median home costs about $323 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,300 |
|---|---|
| Loan amount | $113,200 |
| Principal and interest | $762 |
| Property taxes (0.39% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $866 |
Change the numbers in the calculator
| Down payment | $4,952 |
|---|---|
| Loan amount | $138,937 |
| Principal and interest | $935 |
| Property taxes (0.39% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $63 |
| Total per month | $1,102 |
Change the numbers in the calculator
Questions about home buying in Santa Clara
What is the median home value in Santa Clara?
About $141,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Santa Clara?
Homeowners pay a median $547 a year, which is about 0.39% 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 Santa Clara?
For the median home with 20% down at 7.11%, the payment is about $866 a month. Keeping that under 28% of gross income takes about $37,134 a year.
More about Santa Clara
- Mortgage Refinance in Santa Clara
- Debt Relief in Santa Clara
- Home Equity Loans in Santa Clara
- 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