The typical owner-occupied home in Ruidoso Downs is worth about $154,000, 38% below the New Mexico median of $248,100 and 54% below the national median of $332,700. The median household earns $31,354 a year, so the median home costs 4.9 times the median income (3.9 times for New Mexico). 63% of occupied homes here are lived in by their owners, and 37% of those owners still have a mortgage.
Ruidoso Downs at a glance
| Ruidoso Downs | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $154,000 | $248,100 | $332,700 |
| Median property tax paid per year | – | $1,731 | $3,119 |
| Median household income | $31,354 | $64,059 | $80,734 |
| Homes lived in by their owners | 63% | 70% | 65% |
| Owner homes with a mortgage | 37% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,115 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 28.0% | 20.6% | 21.0% |
| Median rent | $936 | $1,067 | $1,413 |
| Rent as a share of renters' income | 51.0% | 30.1% | 30.6% |
| Median year homes were built | 1983 | 1985 | 1980 |
| Vacant homes | 18.3% | 12.5% | 10.1% |
| Population | 2,655 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Ruidoso Downs
At this week's average 30-year rate of 7.11%, buying the median Ruidoso Downs home of $154,000 with 20% down costs about $1,034 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,291, 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 $44,319 for the 20%-down payment. That payment is 40% of the median Ruidoso Downs household income of $31,354; at that income and 20% down, the 28% guideline points to a home of about $109,000.
The median rent here is $936 a month, so owning the median home costs about $98 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,800 |
|---|---|
| Loan amount | $123,200 |
| Principal and interest | $829 |
| Property taxes (1.10% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| PMI | $0 |
| Total per month | $1,034 |
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| Down payment | $5,390 |
|---|---|
| Loan amount | $151,211 |
| Principal and interest | $1,017 |
| Property taxes (1.10% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| FHA mortgage insurance | $68 |
| Total per month | $1,291 |
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Questions about home buying in Ruidoso Downs
What is the median home value in Ruidoso Downs?
About $154,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Ruidoso Downs?
For the median home with 20% down at 7.11%, the payment is about $1,034 a month. Keeping that under 28% of gross income takes about $44,319 a year.
More about Ruidoso Downs
- Mortgage Refinance in Ruidoso Downs
- Debt Relief in Ruidoso Downs
- Home Equity Loans in Ruidoso Downs
- 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