The typical owner-occupied home in McKinley County is worth about $78,700, 68% below the New Mexico median of $248,100 and 76% below the national median of $332,700. Owners pay a median $1,574 a year in property taxes, about 2.00% of their home's value, higher than the New Mexico rate of 0.70%. The median household earns $47,668 a year, so the median home costs 1.7 times the median income (3.9 times for New Mexico). 70% of occupied homes here are lived in by their owners, and 19% of those owners still have a mortgage.
McKinley County at a glance
| McKinley County | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $78,700 | $248,100 | $332,700 |
| Median property tax paid per year | $1,574 | $1,731 | $3,119 |
| Property tax as a share of value | 2.00% | 0.70% | 0.94% |
| Median household income | $47,668 | $64,059 | $80,734 |
| Homes lived in by their owners | 70% | 70% | 65% |
| Owner homes with a mortgage | 19% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,319 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 20.6% | 21.0% |
| Median rent | $859 | $1,067 | $1,413 |
| Rent as a share of renters' income | 24.8% | 30.1% | 30.6% |
| Median year homes were built | 1985 | 1985 | 1980 |
| Vacant homes | 15.6% | 12.5% | 10.1% |
| Population | 70,431 | 2,120,246 | 334,922,499 |
What a typical home costs per month in McKinley County
At this week's average 30-year rate of 7.11%, buying the median McKinley County home of $78,700 with 20% down costs about $588 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $719, 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 $25,179 for the 20%-down payment. That payment is 15% of the median McKinley County household income of $47,668; at that income and 20% down, the 28% guideline points to a home of about $149,000.
The median rent here is $859 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,740 |
|---|---|
| Loan amount | $62,960 |
| Principal and interest | $424 |
| Property taxes (2.00% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| PMI | $0 |
| Total per month | $588 |
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| Down payment | $2,754 |
|---|---|
| Loan amount | $77,275 |
| Principal and interest | $520 |
| Property taxes (2.00% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| FHA mortgage insurance | $35 |
| Total per month | $719 |
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Questions about home buying in McKinley County
What is the median home value in McKinley County?
About $78,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in McKinley County?
Homeowners pay a median $1,574 a year, which is about 2.00% 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 McKinley County?
For the median home with 20% down at 7.11%, the payment is about $588 a month. Keeping that under 28% of gross income takes about $25,179 a year.
More about McKinley County
- Mortgage Refinance in McKinley County
- Debt Relief in McKinley County
- Home Equity Loans in McKinley County
- 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