The typical owner-occupied home in Elida is worth about $49,500, 80% below the New Mexico median of $248,100 and 85% below the national median of $332,700. Owners pay a median $315 a year in property taxes, about 0.64% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $67,917 a year, so the median home costs 0.7 times the median income (3.9 times for New Mexico). 94% of occupied homes here are lived in by their owners, and 14% of those owners still have a mortgage.
Elida at a glance
| Elida | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $49,500 | $248,100 | $332,700 |
| Median property tax paid per year | $315 | $1,731 | $3,119 |
| Property tax as a share of value | 0.64% | 0.70% | 0.94% |
| Median household income | $67,917 | $64,059 | $80,734 |
| Homes lived in by their owners | 94% | 70% | 65% |
| Owner homes with a mortgage | 14% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,089 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 33.8% | 20.6% | 21.0% |
| Median rent | – | $1,067 | $1,413 |
| Median year homes were built | 1972 | 1985 | 1980 |
| Vacant homes | 5.8% | 12.5% | 10.1% |
| Population | 165 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Elida
At this week's average 30-year rate of 7.11%, buying the median Elida home of $49,500 with 20% down costs about $313 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $396, 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 $13,432 for the 20%-down payment. That payment is 6% of the median Elida household income of $67,917; at that income and 20% down, the 28% guideline points to a home of about $250,000.
| Down payment | $9,900 |
|---|---|
| Loan amount | $39,600 |
| Principal and interest | $266 |
| Property taxes (0.64% a year) | $26 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| PMI | $0 |
| Total per month | $313 |
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| Down payment | $1,732 |
|---|---|
| Loan amount | $48,603 |
| Principal and interest | $327 |
| Property taxes (0.64% a year) | $26 |
| Homeowners insurance (our estimate, 0.5% a year) | $21 |
| FHA mortgage insurance | $22 |
| Total per month | $396 |
Change the numbers in the calculator
Questions about home buying in Elida
What is the median home value in Elida?
About $49,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elida?
Homeowners pay a median $315 a year, which is about 0.64% 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 Elida?
For the median home with 20% down at 7.11%, the payment is about $313 a month. Keeping that under 28% of gross income takes about $13,432 a year.
More about Elida
- Mortgage Refinance in Elida
- Debt Relief in Elida
- Home Equity Loans in Elida
- 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