The typical owner-occupied home in Algodones 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 $1,488 a year in property taxes, about 0.63% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $67,994 a year, so the median home costs 3.5 times the median income (3.9 times for New Mexico). 87% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Algodones at a glance
| Algodones | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $234,800 | $248,100 | $332,700 |
| Median property tax paid per year | $1,488 | $1,731 | $3,119 |
| Property tax as a share of value | 0.63% | 0.70% | 0.94% |
| Median household income | $67,994 | $64,059 | $80,734 |
| Homes lived in by their owners | 87% | 70% | 65% |
| Owner homes with a mortgage | 32% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,972 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 20.2% | 20.6% | 21.0% |
| Median rent | – | $1,067 | $1,413 |
| Median year homes were built | 1980 | 1985 | 1980 |
| Vacant homes | 5.2% | 12.5% | 10.1% |
| Population | 1,479 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Algodones
At this week's average 30-year rate of 7.11%, buying the median Algodones home of $234,800 with 20% down costs about $1,485 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,876, 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 $63,630 for the 20%-down payment. That payment is 26% of the median Algodones household income of $67,994; at that income and 20% down, the 28% guideline points to a home of about $251,000.
| Down payment | $46,960 |
|---|---|
| Loan amount | $187,840 |
| Principal and interest | $1,264 |
| Property taxes (0.63% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| PMI | $0 |
| Total per month | $1,485 |
Change the numbers in the calculator
| Down payment | $8,218 |
|---|---|
| Loan amount | $230,547 |
| Principal and interest | $1,551 |
| Property taxes (0.63% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| FHA mortgage insurance | $104 |
| Total per month | $1,876 |
Change the numbers in the calculator
Questions about home buying in Algodones
What is the median home value in Algodones?
About $234,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Algodones?
Homeowners pay a median $1,488 a year, which is about 0.63% 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 Algodones?
For the median home with 20% down at 7.11%, the payment is about $1,485 a month. Keeping that under 28% of gross income takes about $63,630 a year.
More about Algodones
- Mortgage Refinance in Algodones
- Debt Relief in Algodones
- Home Equity Loans in Algodones
- 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