New Mexico Real Estate and Livability Trends
New Mexico's real estate market shows intriguing trends with significant rises in average taxable income per tax return, surging state and local taxes, and a robust increase in median home values from $160,300 in 2015 to $216,000 in 2022. This economic growth could attract investors and developers eyeing better returns. The state's increasing average residential energy tax credit, which peaked at... Read more
New Mexico Market Trends
New Mexico's median home values have seen a robust increase from $160,300 in 2015 to $216,000 in 2022, outpacing the national average and hinting at a strengthening housing market that could offer better returns. The state's average residential energy tax credit per tax return has notably surged, particularly in 2018 when it reached $3205.85, suggesting growing investments in energy-efficient... Read more
Median Value of Occupied Housing Units in New Mexico Over the Last 8 Years
Over the past eight years, New Mexico has seen a steady increase in median home values, rising from $160,300 in 2015 to $216,000 in 2022. This growth outpaces the national median, which increased from $125,500 to $179,400 in the same period. Those looking to invest, move, or build in New Mexico might find the appreciating home values indicative of a strengthening market, potentially offering better returns compared to national trends.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in New Mexico over the last 10 years
Active Loans 30-60 Days Past Due in New Mexico over the last 10 years in New Mexico
Perent of loans that are Active Loans 90-180 Days Past Due in New Mexico over the last 10 years in New Mexico
Residential Energy Tax Credit Per Tax Return in New Mexico Over the Last 9 Years
The average residential energy tax credit per tax return in New Mexico has shown a generally increasing trend over the last nine years, with notable spikes in 2015, 2017, and especially in 2018 when it reached $3205.85. Despite a dip in 2019, values have largely remained above $2000.00 since 2017, indicating potentially growing investments in energy-efficient home improvements or renewable energy systems. This could be an appealing factor for those considering moving to New Mexico or investing in property there, as these tax credits might offset the costs of upgrading or building energy-efficient homes. Real estate agents and appraisers might also see added value in properties offering significant energy savings.
Average Real Estate Taxes Per Tax Return in New Mexico Over the Last 10 Years
Real estate taxes in New Mexico have seen a steady increase over the past decade, with notable jumps particularly post-2017. While the growth from $2,365.46 in 2012 to $2,795.92 in 2016 suggests a gradual rise, the jump to $3,791.39 in 2018 followed by $4,164.22 in 2020 indicates a more rapid increase in recent years. This trend might be significant for investors, property builders, and real estate agents as it impacts the overall cost of property ownership. Those moving to or living in New Mexico should be aware of the potential for higher tax expenditures, making it crucial for appraisers and insurance agents to consider these figures in their assessments and advice.
Percentage of Farm Returns in New Mexico Over the Last 10 Years
Farm tax returns in New Mexico have been slowly declining over the last decade, dipping from 1.57% in 2012 to about 1.30% in 2021. This gradual decrease can hint at shifts in agricultural economic activity or changes in the number of smaller farms unable to maintain operations. For those looking to invest, it might indicate a trend toward larger, more consolidated farm operations, potentially impacting the local economy and property values. Understanding these trends is crucial for stakeholders considering agricultural investments or development in rural New Mexico areas.
Economic Outlook
New Mexico has seen a rise in average taxable income per tax return from $49,418.08 in 2013 to $66,013.44 in 2021, hinting at economic growth. State and local income taxes have also surged, particularly between 2017 and 2020, increasing from $5,627.07 to $9,127.27. Average total tax liability per tax return climbed from $8,400.48 in 2012 to $10,544.02 in 2021. These trends might appeal to investors and developers, signaling a potentially robust financial... Read more
Average Taxable Income per Tax Return in New Mexico over the last 9 years
Over the past nine years, New Mexico has experienced a notable increase in average taxable income per tax return, rising from $49,418.08 in 2013 to $66,013.44 in 2021. This gradual upward trend could suggest economic growth, making the state potentially more appealing for investors and those looking to move for better financial opportunities. Real estate agents and property developers might find this data useful when considering property valuations, whereas appraisers and insurance agents could use this trend to adjust their estimates and premiums accordingly.
Average State and Local Income Taxes Per Tax Return in New Mexico Over the Last 10 Years
Over the last decade, average state and local income taxes per tax return in New Mexico have shown a consistent upward trend, growing from approximately $4,643.69 in 2012 to about $9,288.68 in 2021. Significant jumps are seen in recent years, particularly between 2017 and 2020 where taxes surged from $5,627.07 to $9,127.27. Such trends may be of interest to potential investors, developers, and real estate professionals as rising taxes can reflect both economic growth and changing fiscal policies in the state. These figures could also serve as benchmarks for appraisers and insurance agents evaluating the financial landscape in New Mexico.
Average Total Tax Liability Per Tax Return in New Mexico Over the Last 10 Years
Over the past decade, average total tax liability per tax return in New Mexico has seen a notable upward trend. Starting at approximately $8,400.48 in 2012, it has gradually increased, reaching around $10,544.02 by 2021. This rise is indicative of potential economic growth and increased income levels, which may interest investors, real estate agents, and those considering moving to the area. Although fluctuations are evident, the overall trend suggests increasing financial responsibility and income, potentially reflecting a growing economy in the state.
Cost of Living in New Mexico
Safety trends & Data
Property crime trends in New Mexico have been on a steady decline over the past five years, which might pique the interest of investors and real estate agents. Fraud remains the highest category but has notably dropped from 6377.00 cases in 2018 to 3904.00 in 2022. Vandalism saw a slight peak in 2020 with 1603.00 cases but has since slightly decreased to 1562.00 in 2022. Larceny-theft and arson are also on the decline. These trends could be crucial for stakeholders assessing the safety and... Read more
Property Crime Trends in New Mexico Over the Last 5 Years
Property crime trends in New Mexico over the last five years suggest a steady decline across most categories. Fraud, though declining, consistently registers the highest number of incidents, with a notable drop from 6377.00 cases in 2018 to 3904.00 in 2022. Vandalism saw a mixed trend, peaking at 1603.00 cases in 2020 before slightly lowering to 1562.00 in 2022. Larceny-theft and arson have also shown consistent decreases. These trends could be vital for investors and real estate agents evaluating the safety and stability of the market, and for insurance agents tailoring policies based on risk exposure.
Demographics
New Mexico shows a notable gender balance with a slightly higher female adult population. In education, a significant portion of adults have completed high school or some college, while smaller segments hold advanced degrees. Age distribution highlights a youthful under-10 population but significant numbers in the 25-34 and 55-64 age brackets, suggesting diverse generational needs. Racially, the state has a predominant White population, though there's measurable representation from American... Read more
Race Distribution in New Mexico (2022)
Educational Attainment in New Mexico (2022)
Age Distribution in New Mexico
Citizen Population in New Mexico (2022)
Political Trends & Data
In New Mexico, the 2020 U.S. Presidential Election results might indicate a Democratic leaning with approximately 54% of votes potentially favoring the Democrats. Republicans could still maintain substantial backing, close to 43%. Third-party candidates seem to attract minimal interest, perhaps around 2%. This distribution reflects broader national trends, underscoring New Mexico's slight Democratic... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In New Mexico, the 2020 U.S. Presidential Election might show a stronger leaning towards the Democratic party, with Democrats potentially receiving around 54% of the votes. Republicans seem to garner nearly 43%, suggesting they still have significant support. Third-party candidates, including Libertarians and Greens, appear to attract minimal interest, with their combined total votes likely hovering around 2%. This distribution possibly reflects broader national trends while highlighting New Mexico's slight Democratic preference.
43.50% of voters voted for the Republican party in the 2020 Presidential Election
54.29% of voters voted for the Democrat party in the 2020 Presidential Election
1.36% of voters voted for the Libertarian party in the 2020 Presidential Election
0.48% of voters voted for the Green party in the 2020 Presidential Election
0.37% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, the student-to-teacher ratio in New Mexico has hovered around the national average of 14 students per teacher, which might subtly affect the perceived quality of education and influence real estate market dynamics. Notably, the ratio dipped to 13 in 2023, suggesting improved classroom attention that could appeal to families considering relocation. This potential for enhanced educational experiences might drive up demand in local housing markets, as families often... Read more
Student-to-teacher ratio in New Mexico over the last 10 years
Over the past decade, the student-to-teacher ratio in New Mexico has fluctuated, staying predominantly close to the national average of 14 students per teacher. For investment and property interests, these variations might subtly affect perceptions of education quality. For instance, some years saw ratios slightly higher than the national average, such as 2017 (14) and 2022 (14), which may impact people's decisions on relocating based on schooling preferences. A lower ratio in recent years (13 in 2023) could indicate improvements in classroom attention, potentially appealing to families and thereby influencing local real estate market dynamics.
