Torrance County Area Home Supply Charts

This page looks at a variety of Torrance County New Mexico housing market data taken from the most recent 2020 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. Torrance County depicts it has a Housing Units of 8,026 which is the second smallest as measured by housing units of all the other counties in the local area.

Figure 2 illustrates the housing density in the Torrance County housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Torrance County depicts it has a Housing Density of 2.4 which is less than most other counties in the local area. The county with the highest housing density in the area is Bernalillo County which depicts a density of 253.1 ( very much bigger). Comparing housing density to the United States average of 38.9, Torrance County is only about 6.2% the size. Also, benchmarked against the state of New Mexico, housing density of 7.7, Torrance County is approximately a third the size.

In Figure 4, Torrance County area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Torrance County depicts it has a Housing Unit Change of 2.9% which is less than most other counties in the surrounding region. The county with the highest change in the housing units in the area is Guadalupe County which shows a housing units of 11.6% (approximately 4.0 times bigger). Comparing change in the housing units to the United States average of 5.7%, Torrance County is approximately half the size. Also, benchmarked against the state of New Mexico, change in the housing units of 4.1%, Torrance County is approximately three-fourths 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.) Torrance County depicts it has a Renter Percent of 16.8% which is the smallest when sorted by renter percent of all the other counties in the greater region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 83.2% which is the largest of all counties in the surrounding region.

Torrance County Home Cost Charts

Looking at the housing data provided in Figure 7, the average Torrance County home price is illustrated for this community and a useful analysis of affordable housing. Torrance County depicts it has a Median Home Value of $114,300 which is the second smallest in order of median home price of all the other counties in the surrounding region. The county with the highest median home price in the area is Santa Fe County which shows a home price of $291,800 (approximately 2.6 times bigger). Figure 8 provides aggregate comparative data for the Torrance County New Mexico metro area in terms of the median housing rental rate, apartment rent, etc. Torrance County depicts it has a Median Gross Rent of $754 which is in the mid range of other counties in the local area. The county with the highest rental rates in the area is Santa Fe County which shows a rental rates of $1,048 (39.0% larger). Comparing rental rates to the United States average of $1,062, Torrance County is approximately three-fourths the size. Also, compared to the state of New Mexico, rental rates of $844, Torrance County is about 11.9% smaller.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Torrance County has one of the largest proportions of home price worth less than $50,000 at 31% of the total and is ranked #2. The only larger county being Guadalupe County with 33%.

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. Torrance County depicts it has a Median Owner Cost of $593 which is less than most other counties in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Torrance County metro area. it has a Owner Cost as % of HH Income of 18% which is the second most cost as a percent of household income of all the counties in the greater Torrance County 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. Torrance County shows it has a Median Home Value as Percent of Median Earnings of 280% which is the smallest as measured by median home value as a percent of median worker earnings of all the other counties in the metro area.

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.) Torrance County shows it has a Median Owner Costs-With Mortgage of $948 which is the smallest when ranked by median housing cost of all the other counties in the surrounding 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 $327 which is the second smallest in order of median housing cost of all the other counties in the local 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. Torrance County has one of the largest proportions of owner cost less than $300 at 34% of the total and is ranked #3. Only #2 Socorro County (40%), and #1 Guadalupe County (50%) are larger. Second, it has the largest proportion of owner cost between $500 and $700 at 22% 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.) Torrance County depicts it has a % of Income Owner Costs-With Mortgage of 24% which is at the top of all other counties in the greater Torrance County region. 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. Torrance County shows it has a % of Income Owner Costs-No Mortgage of 11% which is the second most cost as a percent of household income of all the counties in the greater Torrance County region. The county with the highest cost as a percent of household income in the area is Guadalupe County which shows a cost as a percent of household income of 13% (17.7% 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.) Torrance County has the smallest proportion of rent as a percent of income is less than 10 pct at 10% of the total. Second, it has the smallest proportion of rent as a percent of income is between 10pct to 20pct at 11% of the total. Third, it has the smallest proportion of rent as a percent of income is between 20pct to 30pct at 8% of the total. Also, it has the largest proportion of rent as a percent of income is between 40pct to 50pct at 27% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Torrance County has the largest proportion of housing cost between $500 and $700 at 23% 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 $743 which is the second smallest as measured by median real estate taxes paid of all the other counties in the metropolitan area. The county with the highest median real estate taxes paid in the area is Bernalillo County which shows a taxes paid of $2,128 (approximately 2.9 times bigger). Comparing median real estate taxes paid to the United States average of $2,471, Torrance County is approximately a third the size. Also, in contrast to the state of New Mexico, median real estate taxes paid of $1,371, Torrance County is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Torrance 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 the second smallest in terms of rent less than 300 dollars of all the other counties in the greater region in terms of rent between 750 and 1000 dollars at 11% of the total.

Torrance County Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Torrance County has the percentage of both 2nd mortgage and heloc in the mid range of other counties in the greater region at 47% of the total.

Torrance County Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.5 which is in the mid range of other counties in the local area. The county with the highest family members per housing unit in the area is Socorro County which depicts a family members per housing unit of 5.3 (52.5% larger). Comparing family members per housing unit to the United States average of 3.3, Torrance County is only about 4.3% larger. Also, compared with the state of New Mexico, family members per housing unit of 3.4, Torrance County is only slightly 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 in the mid point range of other counties in the surrounding region. The county with the highest average number of rooms in a house in the area is Valencia County which depicts an average number of rooms in a house of 5.6 (7.7% 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 1985 which is the third most year built of all other counties in the greater Torrance County region. The county with the highest year built in the area is Santa Fe County which depicts a year built of 1988 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built between 2000 to 2009 at 26% of the total and is ranked #2. The only larger county being Valencia County with 26%. Second, it has the smallest proportion of homes built between 1970 to 1979 at 5% of the total. Third, it has the smallest proportion of homes built between 1960 to 1969 at 3% of the total. Also, it has one of the largest proportions of homes built between 1940 to 1949 at 10% of the total and is ranked #2. The only larger county being Guadalupe County with 16%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest in terms of owner-occupied housing units of all the other counties in the area at 947 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. has the smallest proportion of one unit detached at 0% of the total. Second, it has the smallest proportion of one unit attached at 1% of the total. Third, it has the smallest proportion of 2 units at 0% of the total. Also, it has the smallest proportion of 3 or 4 units at 0% of the total. In addition, it has the smallest proportion of 10 to 19 units at 0% of the total. Furthermore, it has the largest proportion of 50 or more units at 44% of the total and is ranked #1. Next it has the largest proportion of mobile home at 0% 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 2014 or later less than most other counties in the local area at $146,900 of the total. Second, it has the second smallest as measured by value of homes built 2014 or later of all the other counties in the metro area in terms of value of homes built 2010 to 2013 at $140,000 of the total. Third, it has the second smallest in order of value of homes built 2014 or later of all the other counties in the local area as measured by value of homes built 2000 to 2009 at $112,700 of the total. Also, it has less than most other counties in the local area in terms of value of homes built 1990 to 1999 at $123,800 of the total. In addition, it has the smallest proportion of value of homes built 1980 to 1989 at $76,400 of the total. Furthermore, it has less than most other counties in the local area when ranked by value of homes built 1970 to 1979 at $126,300 of the total. Next it has the second smallest in order of value of homes built 2014 or later of all the other counties in the greater region in terms of value of homes built 1960 to 1969 at $84,400 of the total. Additionally, it has in the mid range of other counties in the local area in order of value of homes built 1950 to 1959 at $113,900 of the total. And then, it has the second smallest in terms of value of homes built 2014 or later of all the other counties in the metro area when ranked by value of homes built 1940 to 1949 at $113,400 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 Torrance County residents. it has a Owner-Household Size of 2.6 which is the second smallest in terms of homeowner household size of all the other counties in the local area. The county with the highest homeowner household size in the area is Socorro County which depicts a homeowner household size of 3.6 (39.3% larger).

Figure 37 shows the household size for renters. Torrance County shows it has a Renter-Household Size of 3.3 which is the second most renter household sizes of all the counties in the greater Torrance County region. The county with the highest renter household size in the area is Socorro County which depicts a renter household sizes of 3.7 (12.8% larger). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2017 or later at 12% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Torrance County has the percentage of renters moved in 2017 or later the second smallest when sorted by renters moved in 2017 or later of all the other counties in the surrounding region at 24% of the total. Second, it has the second smallest when sorted by renters moved in 2017 or later of all the other counties in the metropolitan area in terms of renters moved in 2015 to 2016 at 23% of the total. Third, it has the largest proportion of renters moved in 2010 to 2014 at 22% of the total and is ranked #1. Also, it has the largest proportion of renters moved in 1990 to 1999 at 11% 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 the second most of all the counties in the greater region. Figure 41 compares the median year that renters moved into their home. Torrance County depicts it has a Renter Median Year Moved In of 2014 which is in the mid range of other counties in the metro area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the smallest proportion of home using bottled, tank, or lp gas at 7% of the total. Second, it has the largest proportion of homes using kerosene or other fuel oils at 1% of the total and is ranked #1. Third, it has the largest proportion of homes using coal or coke at 24% of the total and is ranked #1. Also, it has the largest proportion of homes using solar energy at 3% 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 Torrance 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. Torrance County shows it has a Total In Group Quarters of 315 which is the second smallest in order of total people living in group quarters of all the other counties in the local area.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Torrance 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.) Torrance County has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.