The typical owner-occupied home in La Luz is worth about $68,100, 73% below the New Mexico median of $248,100 and 80% below the national median of $332,700. Owners pay a median $362 a year in property taxes, about 0.53% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $46,655 a year, so the median home costs 1.5 times the median income (3.9 times for New Mexico). 76% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
La Luz at a glance
| La Luz | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $68,100 | $248,100 | $332,700 |
| Median property tax paid per year | $362 | $1,731 | $3,119 |
| Property tax as a share of value | 0.53% | 0.70% | 0.94% |
| Median household income | $46,655 | $64,059 | $80,734 |
| Homes lived in by their owners | 76% | 70% | 65% |
| Owner homes with a mortgage | 35% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $873 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 13.1% | 20.6% | 21.0% |
| Median rent | $765 | $1,067 | $1,413 |
| Rent as a share of renters' income | 36.7% | 30.1% | 30.6% |
| Median year homes were built | 1981 | 1985 | 1980 |
| Vacant homes | 17.8% | 12.5% | 10.1% |
| Population | 1,797 | 2,120,246 | 334,922,499 |
What a typical home costs per month in La Luz
At this week's average 30-year rate of 7.11%, buying the median La Luz home of $68,100 with 20% down costs about $425 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $538, 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 $18,212 for the 20%-down payment. That payment is 11% of the median La Luz household income of $46,655; at that income and 20% down, the 28% guideline points to a home of about $174,000.
The median rent here is $765 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,620 |
|---|---|
| Loan amount | $54,480 |
| Principal and interest | $366 |
| Property taxes (0.53% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $425 |
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| Down payment | $2,384 |
|---|---|
| Loan amount | $66,867 |
| Principal and interest | $450 |
| Property taxes (0.53% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $30 |
| Total per month | $538 |
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Questions about home buying in La Luz
What is the median home value in La Luz?
About $68,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in La Luz?
Homeowners pay a median $362 a year, which is about 0.53% 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 La Luz?
For the median home with 20% down at 7.11%, the payment is about $425 a month. Keeping that under 28% of gross income takes about $18,212 a year.
More about La Luz
- Mortgage Refinance in La Luz
- Debt Relief in La Luz
- Home Equity Loans in La Luz
- 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