Chaves County Area Home Supply Charts

This page looks at a variety of Chaves County New Mexico housing market data taken from the most recent 2021 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Chaves County depicts it has a Housing Units of 27,385 which is the second most housing units of all the counties in the greater Chaves County region.

Figure 2 illustrates the housing density in the Chaves County housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Chaves County depicts it has a Housing Density of 4.5 which is in the mid range of other counties in the area. The county with the highest housing density in the area is Lea County which shows a density of 6.1 (35.5% larger). Comparing housing density to the United States average of 39.2, Chaves County is approximately a tenth the size. Also, in contrast to the state of New Mexico, housing density of 7.8, Chaves County is approximately half the size.

In Figure 4, Chaves County area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Chaves County shows it has a Housing Unit Change of 2.6% which is the second smallest in order of change in the housing units of all the other counties in the area. The county with the highest change in the housing units in the area is Eddy County which depicts a housing units of 10.1% (approximately 3.9 times bigger). Comparing change in the housing units to the United States average of 6.5%, Chaves County is approximately half the size. Also, compared to the state of New Mexico, change in the housing units of 4.7%, Chaves County is approximately half the size.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Chaves County depicts it has a Renter Percent of 31.8% which is less than most other counties in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 68.2% which is the third most owner percent of all other counties in the greater Chaves County region.

Chaves County Home Cost Charts

Looking at the housing data provided in Figure 7, the average Chaves County home price is illustrated for this community and a useful analysis of affordable housing. Chaves County depicts it has a Median Home Value of $115,400 which is the second smallest in terms of median home price of all the other counties in the local area. The county with the highest median home price in the area is Lincoln County which shows a home price of $172,800 (49.7% larger). Figure 8 provides aggregate comparative data for the Chaves County New Mexico metro area in terms of the median housing rental rate, apartment rent, etc. Chaves County depicts it has a Median Gross Rent of $808 which is in the mid point range of other counties in the metro area. The county with the highest rental rates in the area is Eddy County which depicts a rental rates of $970 (20.0% larger). Comparing rental rates to the United States average of $1,096, Chaves County is approximately three-fourths the size. Also, versus the state of New Mexico, rental rates of $857, Chaves County is about 6.1% smaller.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Chaves County has one of the largest proportions of home price worth less than $50,000 at 26% of the total and is ranked #2. The only larger county being Roosevelt County with 27%. Second, it has the smallest proportion of home price worth between $100,000 to $200,000 at 11% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Chaves County depicts it has a Median Owner Cost of $551 which is less than most other counties in the area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Chaves County metro area. it has a Owner Cost as % of HH Income of 14% which is less than most other counties in the surrounding region.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Chaves County depicts it has a Median Home Value as Percent of Median Earnings of 314% which is less than most other counties in the greater region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Chaves County depicts it has a Median Owner Costs-With Mortgage of $1,115 which is the second smallest in order of median housing cost of all the other counties in the greater region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $319 which is less than most other counties in the surrounding region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Chaves County has the percentage of owner cost less than $300 the second smallest when ranked by owner cost less than $300 of all the other counties in the local area at 23% of the total.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Chaves County depicts it has a % of Income Owner Costs-With Mortgage of 20% which is the third most of all other counties in the metropolitan area. The county with the highest cost as a percent of household income in the area is Lincoln County which shows a cost as a percent of household income of 23% (14.7% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Chaves County depicts it has a % of Income Owner Costs-No Mortgage of 9% which is the third most cost as a percent of household income of all other counties in the greater Chaves County region. The county with the highest cost as a percent of household income in the area is Roosevelt County which shows a cost as a percent of household income of 12% (27.8% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Chaves County has one of the largest proportions of rent as a percent of income is less than 10 pct at 24% of the total and is ranked #3. Only #2 Eddy County (26%), and #1 Lea County (27%) are larger. Second, it has one of the largest proportions of rent as a percent of income is between 10pct to 20pct at 22% of the total and is ranked #2. The only larger county being Otero County with 26%. Third, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 18% of the total and is ranked #2. The only larger county being Roosevelt County with 25%.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $748 which is the third most median real estate taxes paid of all other counties in the greater Chaves County region. The county with the highest median real estate taxes paid in the area is Lincoln County which shows a taxes paid of $1,120 (49.7% larger). Comparing median real estate taxes paid to the United States average of $2,551, Chaves County is approximately a third the size. Also, in comparison with the state of New Mexico, median real estate taxes paid of $1,399, Chaves County is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Chaves County New Mexico has one of the largest proportions of rent between 500 and 750 dollars at 27% of the total and is ranked #2. The only larger county being Lea County with 28%.

Chaves County Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Chaves County has the largest proportion of With Multiple Mortgages at 0% of the total and is ranked #1.

Chaves County Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.4 which is less than most other counties in the local area. The county with the highest family members per housing unit in the area is De Baca County which depicts a family members per housing unit of 6.1 (about twice as large). Comparing family members per housing unit to the United States average of 3.3, Chaves County is only slightly larger. Also, benchmarked against the state of New Mexico, family members per housing unit of 3.4, Chaves County is about the same size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.7 which is the highest of all counties in the greater Chaves County region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1972 which is the second smallest in order of year built of all the other counties in the local area. The county with the highest year built in the area is Lincoln County which shows a year built of 1982 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 the second smallest when ranked by homes built in 2014 or later of all the other counties in the greater region at 7% of the total. Second, it has one of the largest proportions of homes built between 1960 to 1969 at 19% of the total and is ranked #2. The only larger county being Lea County with 20%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 7,508 of the total and is ranked #2. The only larger county being Otero County with 7,875.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of 10 to 19 units at 2% of the total and is ranked #1. Second, it has the largest proportion of 20 to 49 units at 2% of the total and is ranked #1. Third, it has the smallest proportion of 50 or more units at 15% of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2014 or later at $223,400 of the total and is ranked #3. Only #2 Otero County ($237,200), and #1 Lincoln County ($252,500) are larger. Second, it has the largest proportion of value of homes built 2010 to 2013 at $285,600 of the total and is ranked #1. Third, it has one of the largest proportions of value of homes built 2000 to 2009 at $163,400 of the total and is ranked #2. The only larger county being De Baca County with $267,100. Also, it has the second smallest as measured by value of homes built 2014 or later of all the other counties in the local area in terms of value of homes built 1990 to 1999 at $127,200 of the total. In addition, it has in the mid point range of other counties in the greater region when sorted by value of homes built 1980 to 1989 at $121,100 of the total. Furthermore, it has the second smallest in order of value of homes built 2014 or later of all the other counties in the local area in terms of value of homes built 1970 to 1979 at $106,000 of the total. Next it has less than most other counties in the local area in order of value of homes built 1960 to 1969 at $94,400 of the total. Additionally, it has the second smallest in order of value of homes built 2014 or later of all the other counties in the metro area in terms of value of homes built 1950 to 1959 at $80,600 of the total. And then, it has in the mid range of other counties in the area when ranked by value of homes built 1940 to 1949 at $94,300 of the total.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. has the percentage of occupied housing units the second smallest as measured by occupied housing units of all the other counties in the metro area at 14% of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Chaves County residents. it has a Owner-Household Size of 2.7 which is in the mid range of other counties in the metro area. The county with the highest homeowner household size in the area is De Baca County which depicts a homeowner household size of 3.2 (19.9% larger).

Figure 37 shows the household size for renters. Chaves County depicts it has a Renter-Household Size of 2.6 which is less than most other counties in the local area. The county with the highest renter household size in the area is De Baca County which depicts a renter household sizes of 4.2 (59.5% larger). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2019 or later at 18% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2004 which is in the mid range of other counties in the local area. Figure 41 compares the median year that renters moved into their home. Chaves County shows it has a Renter Median Year Moved In of 2016 which is the second most median year that a renter moved in of all the counties in the greater Chaves County region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has one of the largest proportions of home using bottled, tank, or lp gas at 51% of the total and is ranked #2. The only larger county being Roosevelt County with 60%. Second, it has less than most other counties in the greater region as measured by homes using coal or coke at 1% of the total. Third, it has less than most other counties in the area as measured by homes using solar energy at 1% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Chaves County housing department, New Mexico department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Chaves County depicts it has a Total In Group Quarters of 2,340 which is the third most of all other counties in the surrounding region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Chaves County residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Chaves County has the smallest proportion of number of people under 18 years of age and in group quarters at 88% of the total.