The typical owner-occupied home in Waterflow is worth about $167,400, 33% below the New Mexico median of $248,100 and 50% below the national median of $332,700. Owners pay a median $730 a year in property taxes, about 0.44% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $61,429 a year, so the median home costs 2.7 times the median income (3.9 times for New Mexico). 59% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Waterflow at a glance
| Waterflow | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $167,400 | $248,100 | $332,700 |
| Median property tax paid per year | $730 | $1,731 | $3,119 |
| Property tax as a share of value | 0.44% | 0.70% | 0.94% |
| Median household income | $61,429 | $64,059 | $80,734 |
| Homes lived in by their owners | 59% | 70% | 65% |
| Owner homes with a mortgage | 49% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,799 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 23.7% | 20.6% | 21.0% |
| Median rent | $1,572 | $1,067 | $1,413 |
| Rent as a share of renters' income | 22.4% | 30.1% | 30.6% |
| Median year homes were built | 1991 | 1985 | 1980 |
| Vacant homes | 24.0% | 12.5% | 10.1% |
| Population | 1,140 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Waterflow
At this week's average 30-year rate of 7.11%, buying the median Waterflow home of $167,400 with 20% down costs about $1,032 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,311, 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 $44,229 for the 20%-down payment. That payment is 20% of the median Waterflow household income of $61,429; at that income and 20% down, the 28% guideline points to a home of about $232,000.
The median rent here is $1,572 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $33,480 |
|---|---|
| Loan amount | $133,920 |
| Principal and interest | $901 |
| Property taxes (0.44% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,032 |
Change the numbers in the calculator
| Down payment | $5,859 |
|---|---|
| Loan amount | $164,368 |
| Principal and interest | $1,106 |
| Property taxes (0.44% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $74 |
| Total per month | $1,311 |
Change the numbers in the calculator
Questions about home buying in Waterflow
What is the median home value in Waterflow?
About $167,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Waterflow?
Homeowners pay a median $730 a year, which is about 0.44% 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 Waterflow?
For the median home with 20% down at 7.11%, the payment is about $1,032 a month. Keeping that under 28% of gross income takes about $44,229 a year.
More about Waterflow
- Mortgage Refinance in Waterflow
- Debt Relief in Waterflow
- Home Equity Loans in Waterflow
- 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