How much do homeowners pay a month in Elephant Butte, NM?
Homeowners with a mortgage in Elephant Butte, NM pay a median of $1,554 (±$233) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $381 (±$65).
26.8% of owned homes carry a mortgage.
In Elephant Butte, the median monthly cost with a mortgage went from $1,103 in 2015–2019 to $1,554 in 2020–2024 (+40.9%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- With a mortgage
- $1,554 (±$233)
- Without a mortgage
- $381 (±$65)
- Owned with a mortgage
- 26.8%
Monthly owner costs in Elephant Butte
| Elephant Butte | Sierra County | New Mexico | United States | |
|---|---|---|---|---|
| With a mortgage | $1,554 (±$233) | $1,123 (±$183) | $1,564 (±$11) | $1,963 |
| Without a mortgage | $381 (±$65) | $372 (±$25) | $451 (±$4) | $638 |
| Owned homes with a mortgage | 26.8% (±14.6 points) | 30.0% (±5.4 points) | 51.5% (±0.5 points) | 60.6% |
| Median real estate taxes (a year) | $910 (±$192) | $789 (±$85) | $1,731 (±$19) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Elephant Butte, the median cost with a mortgage is higher than in Sierra County ($1,123).
It is not measurably different from New Mexico ($1,564).
It is lower than the national figure ($1,963).
In Sierra County, Elephant Butte ranks 1 of 3 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 69 of 175.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Elephant Butte have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $1,103 (±$201) | $1,554 (±$233) | +40.9% | No measurable change after inflation |
| Median real estate taxes | $921 (±$137) | $910 (±$192) | −1.2% | No measurable change after inflation |
| Median home value | $135,400 (±$23,561) | $176,800 (±$45,486) | +30.6% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Elephant Butte
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Elephant Butte | — | $1,554 (±$233) | — |
| Truth or Consequences | 5.0 mi | $992 (±$145) | Lower |
| Williamsburg | 6.2 mi | $846 (±$74) | Lower |
| Radium Springs | 52 mi | $1,131 (±$98) | Lower |
| Bayard | 60 mi | $1,089 (±$241) | Lower |
| Santa Clara | 61 mi | $956 (±$300) | Lower |
| Hurley | 62 mi | $1,041 (±$180) | Lower |
| Socorro | 63 mi | $1,334 (±$98) | Not measurably different |
| Picacho Hills | 63 mi | $2,059 (±$411) | Higher |
Nearby places with a measurably lower figure: Truth or Consequences, NM ($992), Williamsburg, NM ($846), Radium Springs, NM ($1,131).
Nearby places with a measurably higher figure: Picacho Hills, NM ($2,059).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Sierra County, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 1 | Elephant Butte | $1,554 (±$233) |
| 2 | Truth or Consequences | $992 (±$145) |
| 3 | Williamsburg | $846 (±$74) |
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
What you can do on Seayora in Elephant Butte
One account for renting, owning, managing and fixing homes, with these figures beside you.
Own or manage a rental?
List it, sign the lease and collect rent online, with the figures for Elephant Butte beside you.
Create a landlord account · See what landlords get
Looking for a place to rent?
Browse homes for rent near Elephant Butte, save the ones you like and apply online.
Browse rentals · Create a renter account
Do repairs, renovations or maintenance?
Get found by owners and renters near Elephant Butte, and send estimates and invoices from your phone.
Questions about Elephant Butte
What is the average mortgage payment in Elephant Butte?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Elephant Butte, NM is $1,554 (±$233) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Elephant Butte?
Owners without a mortgage in Elephant Butte pay a median of $381 (±$65) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Elephant Butte gone up?
In Elephant Butte, the median monthly cost with a mortgage went from $1,103 in 2015–2019 to $1,554 in 2020–2024 (+40.9%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Elephant Butte city, New Mexico
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Elephant Butte city, New Mexico
- Median Selected Monthly Owner Costs (B25088), 2015–2019 ACS 5-year estimates — Elephant Butte city, New Mexico
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2015–2019 ACS 5-year estimates — Elephant Butte city, New Mexico
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Elephant Butte city, New Mexico
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Elephant Butte city, New Mexico (place:22720, in state:35).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Elephant Butte at a glance
- Renters and owners in Elephant Butte
- Income and affordability in Elephant Butte
- Home values in Elephant Butte
- Property taxes in Elephant Butte
- Types of homes in Elephant Butte
- Bedrooms in Elephant Butte
- Heating fuel in Elephant Butte
- Commute and cars in Elephant Butte
- Population growth in Elephant Butte
- New Mexico landlord and tenant rules
- Housing across Sierra County
- Housing data for every place in New Mexico