Lea County Area Home Supply Charts

This page looks at a variety of Lea 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. Lea County depicts it has a Housing Units of 26,871 which is the largest of all counties in the greater Lea County region.

Figure 2 illustrates the housing density in the Lea County housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Lea County depicts it has a Housing Density of 6.1 which is the largest of all counties in the surrounding region. Comparing housing density to the United States average of 39.2, Lea County is approximately a sixth the size. Also, benchmarked against the state of New Mexico, housing density of 7.8, Lea County is approximately three-fourths the size.

In Figure 4, Lea County area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Lea County depicts it has a Housing Unit Change of 7.8% which is in the mid point range of other counties in the local area. The county with the highest change in the housing units in the area is Loving County which shows a housing units of 74.0% ( considerably bigger). Comparing change in the housing units to the United States average of 6.5%, Lea County is 21.3% larger. Also, in contrast to the state of New Mexico, change in the housing units of 4.7%, Lea County is 67.4% larger.

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.) Lea County depicts it has a Renter Percent of 32.0% which is the second most renter percent of all the counties in the greater Lea County region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 68.0% which is the second smallest when ranked by owner percent of all the other counties in the metro area.

Lea County Home Cost Charts

Looking at the housing data provided in Figure 7, the average Lea County home price is illustrated for this community and a useful analysis of affordable housing. Lea County depicts it has a Median Home Value of $138,600 which is less than most other counties in the area. The county with the highest median home price in the area is Eddy County which depicts a home price of $161,100 (16.2% larger). Figure 8 provides aggregate comparative data for the Lea County New Mexico metro area in terms of the median housing rental rate, apartment rent, etc. Lea County shows it has a Median Gross Rent of $911 which is the third most rental rates of all other counties in the greater Lea County region. The county with the highest rental rates in the area is Andrews County which depicts a rental rates of $1,095 (20.2% larger). Comparing rental rates to the United States average of $1,096, Lea County is about 20.3% smaller. Also, measured against the state of New Mexico, rental rates of $857, Lea County is 6.3% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Lea County has the percentage of home price worth less than $50,000 less than most other counties in the local area at 21% 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. Lea County depicts it has a Median Owner Cost of $558 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 Lea County metro area. it has a Owner Cost as % of HH Income of 12% which is in the middle range of 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. Lea County depicts it has a Median Home Value as Percent of Median Earnings of 264% 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.) Lea County depicts it has a Median Owner Costs-With Mortgage of $1,211 which is less than most other counties in the area. 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 $342 which is the second smallest when sorted by median housing cost of all the other counties in the metropolitan area.

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. Lea County has one of the largest proportions of owner cost between $700 and $1,000 at 18% of the total and is ranked #2. The only larger county being Andrews County with 21%. Second, it has the largest proportion of owner cost between $3,000 and $3,500 at 2% of the total and is ranked #1.

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.) Lea County depicts it has a % of Income Owner Costs-With Mortgage of 18% which is the third most cost as a percent of household income of all other counties in the greater Lea County region. The county with the highest cost as a percent of household income in the area is Gaines County which depicts a cost as a percent of household income of 19% (10.3% 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. Lea County shows it has a % of Income Owner Costs-No Mortgage of 9% which is the highest of all counties in the greater region.

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.) Lea County has the largest proportion of rent as a percent of income is less than 10 pct at 27% of the total and is ranked #1. Second, 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 #3. Only #2 Cochran County (18%), and #1 Yoakum County (18%) are larger.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Lea County has the largest proportion of housing cost between $500 and $700 at 18% of the total and is ranked #1.

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 $644 which is the second smallest as measured by median real estate taxes paid of all the other counties in the area. The county with the highest median real estate taxes paid in the area is Gaines County which depicts a taxes paid of $2,153 (approximately 3.3 times bigger). Comparing median real estate taxes paid to the United States average of $2,551, Lea County is approximately a quarter the size. Also, in contrast to the state of New Mexico, median real estate taxes paid of $1,399, Lea County is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Lea County New Mexico has the largest proportion of rent between 500 and 750 dollars at 28% of the total and is ranked #1. Second, it has one of the largest proportions of rent between 750 and 1000 dollars at 27% of the total and is ranked #3. Only #2 Eddy County (27%), and #1 Andrews County (44%) are larger. Third, it has the largest proportion of rent between $2,500 and $3,500 at 0% of the total and is ranked #1.

Lea County Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Lea County has the percentage of With mortgage in the middle range of other counties in the greater region at 41% of the total. Second, it has in the mid range of other counties in the greater region in terms of With HELOC no Primary Mortgage at 58% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Lea County has the percentage of houses with mortgages in the intermediate range of other counties in the local area at 58% of the total.

Lea County Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.6 which is less than most other counties in the metro area. The county with the highest family members per housing unit in the area is Gaines County which shows a family members per housing unit of 4.2 (16.7% larger). Comparing family members per housing unit to the United States average of 3.3, Lea County is 9.6% larger. Also, measured against the state of New Mexico, family members per housing unit of 3.4, Lea County is 6.7% larger.

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 5.2 which is less than most other counties in the metro area. The county with the highest average number of rooms in a house in the area is Andrews County which shows an average number of rooms in a house of 5.7 (9.6% larger). 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 1973 which is less than most other counties in the greater region. The county with the highest year built in the area is Gaines 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 in the middle range of other counties in the local area at 8% of the total. Second, it has one of the largest proportions of homes built between 1940 to 1949 at 4% of the total and is ranked #3. Only #2 Eddy County (4%), and #1 Loving County (44%) are larger.

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 the largest proportion of owner housing units at 7,313 of the total and is ranked #1.

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 one unit detached at 2% of the total and is ranked #1. Second, it has the largest proportion of 2 units at 3% of the total and is ranked #1. Third, it has the largest proportion of 3 or 4 units at 4% of the total and is ranked #1. Also, it has the largest proportion of 10 to 19 units at 2% of the total and is ranked #1. In addition, it has the largest proportion of 20 to 49 units at 2% of the total and is ranked #1. Furthermore, it has the largest proportion of mobile home at 1% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. has the percentage of value of homes built 2010 to 2013 in the mid range of other counties in the greater region at $146,600 of the total. Second, it has one of the largest proportions of value of homes built 2000 to 2009 at $143,900 of the total and is ranked #3. Only #2 Andrews County ($152,400), and #1 Yoakum County ($158,500) are larger. Third, it has less than most other counties in the metro area when sorted by value of homes built 1990 to 1999 at $172,700 of the total. Also, it has one of the largest proportions of value of homes built 1980 to 1989 at $159,300 of the total and is ranked #2. The only larger county being Yoakum County with $186,700. In addition, it has in the middle range of other counties in the local area in order of value of homes built 1970 to 1979 at $131,200 of the total. Furthermore, it has in the mid point range of other counties in the local area in order of value of homes built 1960 to 1969 at $110,600 of the total. Next it has one of the largest proportions of value of homes built 1950 to 1959 at $98,100 of the total and is ranked #2. The only larger county being Eddy County with $118,000. Additionally, it has one of the largest proportions of value of homes built 1940 to 1949 at $85,500 of the total and is ranked #2. The only larger county being Eddy County with $168,300.

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 Lea County residents. it has a Owner-Household Size of 3.0 which is less than most other counties in the local area. The county with the highest homeowner household size in the area is Gaines County which shows a homeowner household size of 3.9 (30.2% larger).

Figure 37 shows the household size for renters. Lea County depicts it has a Renter-Household Size of 2.9 which is the third most renter household sizes of all other counties in the greater Lea County region. The county with the highest renter household size in the area is Andrews County which depicts a renter household sizes of 3.5 (23.7% larger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2019 or later in the mid range of other counties in the metro area at 16% of the total. Figure 39 shows the year that people who rent moved into the area. Lea County has the percentage of renters moved in 2019 or later less than most other counties in the metro area at 51% of the total. Second, it has the largest proportion of renters moved in 2015 to 2018 at 25% of the total and is ranked #1. Third, it has in the center range of other counties in the surrounding region as measured by renters moved in 2010 to 2014 at 11% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2005 which is the third most median year that a home owner moved in of all other counties in the greater Lea County region. Figure 41 compares the median year that renters moved into their home. Lea County depicts it has a Renter Median Year Moved In of 2016 which is is the uppermost of the counties in the greater Lea County region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of homes using natural gas less than most other counties in the local area at 4% of the total. Second, it has the largest proportion of home using electricity at 0% of the total and is ranked #1. Third, it has the largest proportion of homes using coal or coke at 1% of the total and is ranked #1. Also, it has the largest proportion of homes using wood at 0% of the total and is ranked #1. In addition, it has the largest proportion of homes using solar energy at 1% of the total and is ranked #1.

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 Lea 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. Lea County shows it has a Total In Group Quarters of 2,613 which is the highest of all counties in the greater Lea County region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Lea 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.) Lea County has one of the largest proportions of number of people under 18 years of age and in group quarters at 99% of the total and is ranked #3. Only #2 Andrews County (100%), and #1 Gaines County (100%) are larger.