Housing costs in Lovington?
A typical home costs
$138,000, which is 59.2% less expensive than the national average of
$338,100 and 48.3% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Lovington costs
$1,010 per month, which is 29.4% cheaper than the national average of
$1,430 and close to the state average of
$1,020.
Can I afford Lovington?
To live comfortably in Lovington, New Mexico, a minimum annual income of
$26,280 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Lovington?
The cost of living in Lovington, NM is relatively low compared to other cities in the United States. The median home value for the city is around $62,400 and the median rent is $672. This means that housing costs are quite affordable and you can get a lot of bang for your buck. The cost of groceries is also fairly low as the average household spends about 8 percent less than the average U.S. household on food and beverage items purchased at stores. Additionally, transportation costs are relatively low as the average commuter pays around $2,874 per year in gasoline expenses. All of this combined helps to make Lovington, NM an affordable place to live for both families and individuals alike.