The typical owner-occupied home in Carrizozo is worth about $84,700, 66% below the New Mexico median of $248,100 and 75% below the national median of $332,700. Owners pay a median $632 a year in property taxes, about 0.75% of their home's value, higher than the New Mexico rate of 0.70%. The median household earns $27,344 a year, so the median home costs 3.1 times the median income (3.9 times for New Mexico). 90% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Carrizozo at a glance
| Carrizozo | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $84,700 | $248,100 | $332,700 |
| Median property tax paid per year | $632 | $1,731 | $3,119 |
| Property tax as a share of value | 0.75% | 0.70% | 0.94% |
| Median household income | $27,344 | $64,059 | $80,734 |
| Homes lived in by their owners | 90% | 70% | 65% |
| Owner homes with a mortgage | 48% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $922 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 40.5% | 20.6% | 21.0% |
| Median rent | $611 | $1,067 | $1,413 |
| Rent as a share of renters' income | 16.1% | 30.1% | 30.6% |
| Median year homes were built | 1956 | 1985 | 1980 |
| Vacant homes | 26.6% | 12.5% | 10.1% |
| Population | 854 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Carrizozo
At this week's average 30-year rate of 7.11%, buying the median Carrizozo home of $84,700 with 20% down costs about $544 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $685, 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 $23,317 for the 20%-down payment. That payment is 24% of the median Carrizozo household income of $27,344; at that income and 20% down, the 28% guideline points to a home of about $99,000.
The median rent here is $611 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,940 |
|---|---|
| Loan amount | $67,760 |
| Principal and interest | $456 |
| Property taxes (0.75% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $544 |
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| Down payment | $2,964 |
|---|---|
| Loan amount | $83,166 |
| Principal and interest | $559 |
| Property taxes (0.75% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $685 |
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Questions about home buying in Carrizozo
What is the median home value in Carrizozo?
About $84,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Carrizozo?
Homeowners pay a median $632 a year, which is about 0.75% 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 Carrizozo?
For the median home with 20% down at 7.11%, the payment is about $544 a month. Keeping that under 28% of gross income takes about $23,317 a year.
More about Carrizozo
- Mortgage Refinance in Carrizozo
- Debt Relief in Carrizozo
- Home Equity Loans in Carrizozo
- 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