The typical owner-occupied home in Santa Fe County is worth about $446,300, 80% above the New Mexico median of $248,100 and 34% above the national median of $332,700. Owners pay a median $2,152 a year in property taxes, about 0.48% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $79,071 a year, so the median home costs 5.6 times the median income (3.9 times for New Mexico). 72% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Santa Fe County at a glance
| Santa Fe County | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $446,300 | $248,100 | $332,700 |
| Median property tax paid per year | $2,152 | $1,731 | $3,119 |
| Property tax as a share of value | 0.48% | 0.70% | 0.94% |
| Median household income | $79,071 | $64,059 | $80,734 |
| Homes lived in by their owners | 72% | 70% | 65% |
| Owner homes with a mortgage | 53% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,911 | $1,564 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 20.6% | 21.0% |
| Median rent | $1,389 | $1,067 | $1,413 |
| Rent as a share of renters' income | 30.7% | 30.1% | 30.6% |
| Median year homes were built | 1989 | 1985 | 1980 |
| Vacant homes | 10.2% | 12.5% | 10.1% |
| Population | 156,105 | 2,120,246 | 334,922,499 |
What a typical home costs per month in Santa Fe County
At this week's average 30-year rate of 7.11%, buying the median Santa Fe County home of $446,300 with 20% down costs about $2,766 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,510, 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 $118,556 for the 20%-down payment. That payment is 42% of the median Santa Fe County household income of $79,071; at that income and 20% down, the 28% guideline points to a home of about $298,000.
The median rent here is $1,389 a month, so owning the median home costs about $1,377 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $89,260 |
|---|---|
| Loan amount | $357,040 |
| Principal and interest | $2,402 |
| Property taxes (0.48% a year) | $179 |
| Homeowners insurance (our estimate, 0.5% a year) | $186 |
| PMI | $0 |
| Total per month | $2,766 |
Change the numbers in the calculator
| Down payment | $15,620 |
|---|---|
| Loan amount | $438,216 |
| Principal and interest | $2,948 |
| Property taxes (0.48% a year) | $179 |
| Homeowners insurance (our estimate, 0.5% a year) | $186 |
| FHA mortgage insurance | $197 |
| Total per month | $3,510 |
Change the numbers in the calculator
Questions about home buying in Santa Fe County
What is the median home value in Santa Fe County?
About $446,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Santa Fe County?
Homeowners pay a median $2,152 a year, which is about 0.48% 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 Santa Fe County?
For the median home with 20% down at 7.11%, the payment is about $2,766 a month. Keeping that under 28% of gross income takes about $118,556 a year.
More about Santa Fe County
- Mortgage Refinance in Santa Fe County
- Debt Relief in Santa Fe County
- Home Equity Loans in Santa Fe County
- 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