Housing costs in Lake Sumner?
A typical home costs
$42,000, which is 87.6% less expensive than the national average of
$338,100 and 84.3% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Lake Sumner costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 24.4% cheaper than the state average of
$1,020.
Can I afford Lake Sumner?
To live comfortably in Lake Sumner, New Mexico, a minimum annual income of
$7,920 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Lake Sumner?
The cost of living in Lake Sumner, NM is comparatively low when compared to other areas in the Southwest, making it a great option for those looking for an affordable place to live. Housing costs are especially attractive, with median home prices around $90,000 and rental rates typically under $800/month. Groceries and other everyday necessities are also relatively inexpensive, so living within a budget in Lake Sumner is very possible. Additionally, the tax rate is lower than most cities in New Mexico, providing yet another financial benefit to potential residents.