The typical owner-occupied home in Cloudcroft is worth about $234,800, 5% below the New Mexico median of $248,100 and 29% below the national median of $332,700. Owners pay a median $897 a year in property taxes, about 0.38% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $56,563 a year, so the median home costs 4.2 times the median income (3.9 times for New Mexico). 84% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Cloudcroft at a glance
| Cloudcroft | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $234,800 | $248,100 | $332,700 |
| Median property tax paid per year | $897 | $1,731 | $3,119 |
| Property tax as a share of value | 0.38% | 0.70% | 0.94% |
| Median household income | $56,563 | $64,059 | $80,734 |
| Homes lived in by their owners | 84% | 70% | 65% |
| Owner homes with a mortgage | 31% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,754 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 27.8% | 20.6% | 21.0% |
| Median rent | – | $1,067 | $1,413 |
| Rent as a share of renters' income | 29.6% | 30.1% | 30.6% |
| Median year homes were built | 1976 | 1985 | 1980 |
| Vacant homes | 67.1% | 12.5% | 10.1% |
| Population | 630 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Cloudcroft
At this week's average 30-year rate of 7.11%, buying the median Cloudcroft home of $234,800 with 20% down costs about $1,436 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,827, 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 $61,534 for the 20%-down payment. That payment is 30% of the median Cloudcroft household income of $56,563; at that income and 20% down, the 28% guideline points to a home of about $216,000.
| Down payment | $46,960 |
|---|---|
| Loan amount | $187,840 |
| Principal and interest | $1,264 |
| Property taxes (0.38% a year) | $74 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| PMI | $0 |
| Total per month | $1,436 |
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| Down payment | $8,218 |
|---|---|
| Loan amount | $230,547 |
| Principal and interest | $1,551 |
| Property taxes (0.38% a year) | $74 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| FHA mortgage insurance | $104 |
| Total per month | $1,827 |
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Questions about home buying in Cloudcroft
What is the median home value in Cloudcroft?
About $234,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cloudcroft?
Homeowners pay a median $897 a year, which is about 0.38% 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 Cloudcroft?
For the median home with 20% down at 7.11%, the payment is about $1,436 a month. Keeping that under 28% of gross income takes about $61,534 a year.
More about Cloudcroft
- Mortgage Refinance in Cloudcroft
- Debt Relief in Cloudcroft
- Home Equity Loans in Cloudcroft
- 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