Housing costs in Homestead?
A typical home costs
$245,300, which is 27.4% less expensive than the national average of
$338,100 and 8.2% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Homestead costs
$1,300 per month, which is 9.1% cheaper than the national average of
$1,430 and 21.5% more than the state average of
$1,020.
Can I afford Homestead?
To live comfortably in Homestead, New Mexico, a minimum annual income of
$47,160 for a family, and
$41,600 for a single person is recommended.
What does A.I. say about Homestead?
Homestead, NM is an affordable place to live compared to other parts of the country. The cost of living in Homestead is low, with housing costs being the most significant factor contributing to this affordability. According to a study conducted by Sperling’s Best Places, the cost of living in Homestead is 18% lower than the U.S. average. In addition, housing costs tend to be much more reasonable than other cities and towns in New Mexico, with residents spending 30% less on rent and 21% less on mortgages than those living elsewhere in the state. This makes Homestead an attractive option for people looking for an affordable place to call home.