A typical Monument home is worth roughly $261,000
What kind of housing town is Monument?
Read from the numbers below. The page puts what stands out first.
A two-bedroom rents for about $1,360
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lea County, NM): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
What it takes to buy in Monument
Try your own numbers below.
That’s $5K short of a typical Monument home.
A two-bedroom rents for about $1,360 a month here, $160 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the New Mexico typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
44% of Monument households own their home
Half of Monument’s homes were built before 1991.
New Mexico: 70% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
Neighbors talk housing
What Monument buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.