The typical owner-occupied home in Ruidoso is worth about $243,800, about the same as the New Mexico median of $248,100 and 27% below the national median of $332,700. Owners pay a median $1,579 a year in property taxes, about 0.65% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $52,736 a year, so the median home costs 4.6 times the median income (3.9 times for New Mexico). 68% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Ruidoso at a glance
| Ruidoso | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $243,800 | $248,100 | $332,700 |
| Median property tax paid per year | $1,579 | $1,731 | $3,119 |
| Property tax as a share of value | 0.65% | 0.70% | 0.94% |
| Median household income | $52,736 | $64,059 | $80,734 |
| Homes lived in by their owners | 68% | 70% | 65% |
| Owner homes with a mortgage | 41% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,587 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 25.3% | 20.6% | 21.0% |
| Median rent | $944 | $1,067 | $1,413 |
| Rent as a share of renters' income | 28.1% | 30.1% | 30.6% |
| Median year homes were built | 1981 | 1985 | 1980 |
| Vacant homes | 52.5% | 12.5% | 10.1% |
| Population | 7,699 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Ruidoso
At this week's average 30-year rate of 7.11%, buying the median Ruidoso home of $243,800 with 20% down costs about $1,546 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,952, 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 $66,244 for the 20%-down payment. That payment is 35% of the median Ruidoso household income of $52,736; at that income and 20% down, the 28% guideline points to a home of about $194,000.
The median rent here is $944 a month, so owning the median home costs about $602 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,760 |
|---|---|
| Loan amount | $195,040 |
| Principal and interest | $1,312 |
| Property taxes (0.65% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| PMI | $0 |
| Total per month | $1,546 |
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| Down payment | $8,533 |
|---|---|
| Loan amount | $239,384 |
| Principal and interest | $1,610 |
| Property taxes (0.65% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $102 |
| FHA mortgage insurance | $108 |
| Total per month | $1,952 |
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Questions about home buying in Ruidoso
What is the median home value in Ruidoso?
About $243,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ruidoso?
Homeowners pay a median $1,579 a year, which is about 0.65% 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 Ruidoso?
For the median home with 20% down at 7.11%, the payment is about $1,546 a month. Keeping that under 28% of gross income takes about $66,244 a year.
More about Ruidoso
- Mortgage Refinance in Ruidoso
- Debt Relief in Ruidoso
- Home Equity Loans in Ruidoso
- 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