The typical owner-occupied home in Jal is worth about $97,600, 61% below the New Mexico median of $248,100 and 71% below the national median of $332,700. Owners pay a median $281 a year in property taxes, about 0.29% of their home's value, lower than the New Mexico rate of 0.70%. 73% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Jal at a glance
| Jal | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $97,600 | $248,100 | $332,700 |
| Median property tax paid per year | $281 | $1,731 | $3,119 |
| Property tax as a share of value | 0.29% | 0.70% | 0.94% |
| Median household income | – | $64,059 | $80,734 |
| Homes lived in by their owners | 73% | 70% | 65% |
| Owner homes with a mortgage | 10% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,271 | $1,564 | $1,963 |
| Median rent | $1,318 | $1,067 | $1,413 |
| Rent as a share of renters' income | 18.6% | 30.1% | 30.6% |
| Median year homes were built | 1964 | 1985 | 1980 |
| Vacant homes | 14.4% | 12.5% | 10.1% |
| Population | 2,364 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Jal
At this week's average 30-year rate of 7.11%, buying the median Jal home of $97,600 with 20% down costs about $590 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $752, 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 $25,264 for the 20%-down payment.
The median rent here is $1,318 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,520 |
|---|---|
| Loan amount | $78,080 |
| Principal and interest | $525 |
| Property taxes (0.29% a year) | $24 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $590 |
Change the numbers in the calculator
| Down payment | $3,416 |
|---|---|
| Loan amount | $95,832 |
| Principal and interest | $645 |
| Property taxes (0.29% a year) | $24 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $752 |
Change the numbers in the calculator
Questions about home buying in Jal
What is the median home value in Jal?
About $97,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Jal?
Homeowners pay a median $281 a year, which is about 0.29% 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 Jal?
For the median home with 20% down at 7.11%, the payment is about $590 a month. Keeping that under 28% of gross income takes about $25,264 a year.
More about Jal
- Mortgage Refinance in Jal
- Debt Relief in Jal
- Home Equity Loans in Jal
- 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