The typical owner-occupied home in Columbus is worth about $105,600, 57% below the New Mexico median of $248,100 and 68% below the national median of $332,700. Owners pay a median $482 a year in property taxes, about 0.46% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $26,090 a year, so the median home costs 4.0 times the median income (3.9 times for New Mexico). 54% of occupied homes here are lived in by their owners, and 9% of those owners still have a mortgage.
Columbus at a glance
| Columbus | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $105,600 | $248,100 | $332,700 |
| Median property tax paid per year | $482 | $1,731 | $3,119 |
| Property tax as a share of value | 0.46% | 0.70% | 0.94% |
| Median household income | $26,090 | $64,059 | $80,734 |
| Homes lived in by their owners | 54% | 70% | 65% |
| Owner homes with a mortgage | 9% | 52% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,564 | $1,963 |
| Median rent | $414 | $1,067 | $1,413 |
| Rent as a share of renters' income | 28.5% | 30.1% | 30.6% |
| Median year homes were built | 1986 | 1985 | 1980 |
| Vacant homes | 43.8% | 12.5% | 10.1% |
| Population | 1,196 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Columbus
At this week's average 30-year rate of 7.11%, buying the median Columbus home of $105,600 with 20% down costs about $653 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $829, 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 $27,976 for the 20%-down payment. That payment is 30% of the median Columbus household income of $26,090; at that income and 20% down, the 28% guideline points to a home of about $98,000.
The median rent here is $414 a month, so owning the median home costs about $239 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $21,120 |
|---|---|
| Loan amount | $84,480 |
| Principal and interest | $568 |
| Property taxes (0.46% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| PMI | $0 |
| Total per month | $653 |
Change the numbers in the calculator
| Down payment | $3,696 |
|---|---|
| Loan amount | $103,687 |
| Principal and interest | $698 |
| Property taxes (0.46% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| FHA mortgage insurance | $47 |
| Total per month | $829 |
Change the numbers in the calculator
Questions about home buying in Columbus
What is the median home value in Columbus?
About $105,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Columbus?
Homeowners pay a median $482 a year, which is about 0.46% 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 Columbus?
For the median home with 20% down at 7.11%, the payment is about $653 a month. Keeping that under 28% of gross income takes about $27,976 a year.
More about Columbus
- Mortgage Refinance in Columbus
- Debt Relief in Columbus
- Home Equity Loans in Columbus
- 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