City · 5,323 residents · Valencia County, New Mexico
El Cerro Mission, New Mexico
In El Cerro Mission, a typical home is worth $115,300. Compared with all of Valencia County, the typical home value is 48% lower and typical household income is 16% lower.
El Cerro Mission is in Valencia County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Valencia County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in El Cerro Mission is worth $115,300,48% less than in Valencia County as a whole ($223,000).
2
The typical household income in El Cerro Mission is $49,470,16% less than in Valencia County as a whole ($58,933).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in El Cerro Mission
What homes there are in El Cerro Mission, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
El Cerro Mission
Valencia County
New Mexico
United States
Kind of home: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Valencia County
New Mexico
United States
Detached house
42%
63%
65%
61%
Attached house
Unreliable estimate
2%
4%
6%
Building of 2 to 4
Unreliable estimate
2%
6%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
10%
19%
Mobile home
57%
30%
16%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
No kind of home is the majority in El Cerro Mission; the largest group, mobile homes, adds up to 57%, against 30% in Valencia County.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
El Cerro Mission
Valencia County
New Mexico
United States
Year built: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Valencia County
New Mexico
United States
Before 1960
Unreliable estimate
7%
17%
26%
1960–1979
Unreliable estimate
24%
26%
24%
1980–1999
38%
42%
32%
25%
2000–2009
Unreliable estimate
18%
16%
14%
2010 or later
17%
9%
10%
11%
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K46%
$100K–$200K21%
$200K–$300K24%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Under $100K
46%
$100K–$200K
21%
$200K–$300K
24%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Under $500
Unreliable
$500–$999
Unreliable estimate
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,217 a month
Valencia County: $1,390 a month
Without a mortgage
$474 a month
Valencia County: $421 a month
Owners with a mortgage
42%
Valencia County: 52%
Owning costs less in El Cerro Mission: with a mortgage, the typical cost is $1,217 a month; in Valencia County, $1,390. Without one, $474.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
El Cerro MissionNo clear change
Valencia County+56%
New Mexico+45%
United States+53%
Typical household income
El Cerro MissionUnreliable
Valencia County+20%
New Mexico+29%
United States+29%
Change since 2015–2019: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Valencia County
New Mexico
United States
Typical home value
No clear change
+56%
+45%
+53%
Typical rent
No data
+16%
+26%
+33%
Typical household income
Unreliable estimate
+20%
+29%
+29%
From 2015–2019 to 2020–2024, the typical home value in El Cerro Mission did not change clearly: the difference is within the Census margin of error.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: El Cerro Mission and its comparisons
Measure
El Cerro Mission
Valencia County
New Mexico
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.9%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
1.0%
0.9%
More than one person per room
Unreliable estimate
3.2%
3.3%
3.4%
People per household
3.33
2.78
2.48
2.53
Drive alone
69%
75%
74%
69%
Carpool
20%
11%
10%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
2%
3%
Work from home
Unreliable estimate
11%
12%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
40 to 59 minutes
Unreliable estimate
10 to 19 minutes
20 to 29 minutes
On average, a household in El Cerro Mission has 3.33 people, more than in Valencia County (2.78).
More people carpool to work in El Cerro Mission than in Valencia County: 20% against 11%.
Do the math
What would you pay each month for a home in El Cerro Mission?
A typical home is within reach of the typical income
We start with a typical home in El Cerro Mission, worth $115,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 23% of the typical household income in El Cerro Mission, which is $49,470 a year.
The calculator's FHA and conventional loan limits are those of all of Valencia County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in El Cerro Mission. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $4,036 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$934
at 7.18% · 30 years
Loan amount
$113,211
Total interest
$162,884
Paid off in
November 2056
Includes $1,947 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,154 a month
Your payment · 23%
Tight
$1,154 to $1,484 a month
Hard
more than $1,484 a month
Compared with the typical household income in El Cerro Mission ($49,470 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$767
Property tax
$68
Home insurance
$48
FHA mortgage insurance (MIP)
$51
You need at least $4,036 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $934; principal and interest $767.
The city and its county
El Cerro Mission and Valencia County
El Cerro Mission is in Valencia County, New Mexico. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
El Cerro Mission
Map of Valencia County, New Mexico, with El Cerro Mission marked. Around it, the neighboring counties.
El Cerro Mission
Valencia County
Other cities with a page
El Cerro Mission's own numbers
Typical home value
$115,300
Typical yearly household income
$49,470
Households that own their home
85%
Effective property tax rate
0.71%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Valencia County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,384
Price change over 5 years (FHFA)
+65%
Homes in a high flood-risk zone
46%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Valencia County.
A typical home in El Cerro Mission is worth $115,300: 48% below the county and 54% below New Mexico. With the typical household income in El Cerro Mission ($49,470 a year), a typical home costs 2.3 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
El Cerro Mission2.3 years
Valencia3.8 years
New Mexico3.9 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Valencia County
According to FHFA’s house price index, home prices in Valencia County rose 102% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Valencia County.
Yearly change in FHFA’s price index in Valencia County, 2016 to 2025
2016: +2.4% +2.4% 2016
2017: +3.8% +3.8% 2017
2018: +3.9% +3.9% 2018
2019: +6.4% +6.4% 2019
2020: +4.2% +4.2% 2020
2021: +13.2% +13.2% 2021
2022: +18.2% +18.2% 2022
2023: +9.6% +9.6% 2023
2024: +7.3% +7.3% 2024
2025: +4.8% +4.8% 2025
Change in FHFA’s price index in Valencia County, New Mexico and the United States
Period
County
New Mexico
U.S.
Last year (2025)
+4.8%
+3.1%
+2.9%
5 years (2020–2025)
+65%
+50%
+47%
10 years (2015–2025)
+102%
+82%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
El Cerro Mission next to Valencia County, New Mexico and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
El Cerro Mission$115,300
Valencia$223,000
New Mexico$248,100
United States$332,700
Typical yearly household income
El Cerro Mission$49,470
Valencia$58,933
New Mexico$64,059
United States$80,734
See the full table
El Cerro Mission next to Valencia County and New Mexico
Measure
El Cerro Mission
Valencia County
New Mexico
U.S.
Typical home value
$115,300 ▼48% below the county
$223,000
$248,100
$332,700
Typical yearly household income
$49,470 ▼16% below the county
$58,933
$64,059
$80,734
Households that own their home
85% ▲2 points above the county
83%
70%
65%
Typical yearly property tax
$819 ▼40% below the county
$1,374
$1,731
$3,119
Effective property tax rate
0.71% ▲0.09 points above the county
0.62%
0.7%
0.94%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Valencia County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in El Cerro Mission
For a typical $115,300 home in El Cerro Mission, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, El Cerro Mission's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$934a month
Least cash to close
Down payment
$4,036
Cash to close
$7,495
Rate
7.18%
Mortgage insurance
FHA MIP · $51
Conventional, 5% down$913a month
Down payment
$5,765
Cash to close
$9,224
Rate
7.18%
Mortgage insurance
PMI · $55
Conventional, 20% down, no PMI$741a month
Down payment
$23,060
Cash to close
$26,519
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$848a month
Down payment
$17,295
Cash to close
$20,754
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in El Cerro Mission
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$934
$4,036
$113,212
7.18%
FHA MIP · $51
$7,495
580
Conventional, 5% down
$913
$5,765
$109,535
7.18%
PMI · $55
$9,224
620*
Conventional, 20% down, no PMI
$741
$23,060
$92,240
7.18%
None
$26,519
620*
ITIN, 15% down (example)
$848
$17,295
$98,005
8.18%
None
$20,754
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for El Cerro Mission and for Valencia County.
Property tax
Effective rate in El Cerro Mission
0.71%of the home’s value each year
$819 a year for the typical owner in El Cerro Mission.
El Cerro Mission0.71%
Valencia0.62%
New Mexico0.7%
What New Mexico publishes3 percent cap on the yearly increase in your home's taxable value (New Mexico Legislative Finance Committee ("Property Taxes in New Mexico" brief))
The Census Bureau publishes no typical rent for El Cerro Mission. Below are the fair market rents for Valencia County.
HUD publishes a fair market rent for all of Valencia County, by unit size. To pay the 2-bedroom one ($1,384 a month) without spending more than 30% of your income, you would need to earn $26.62 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Valencia County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$977
$18.79
$39,080
1 bedroom
$1,112
$21.38
$44,480
2 bedrooms
$1,384
$26.62
$55,360
3 bedrooms
$1,902
$36.58
$76,080
4 bedrooms
$2,242
$43.12
$89,680
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in El Cerro Mission
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). El Cerro Mission is in ZIP code 87031.
For 2 bedrooms it is $1,380: $4 less than the fair market rent for Valencia County ($1,384).
Fair market rent by ZIP code and size in El Cerro Mission, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
87031
$970
$1,120
$1,380
$1,920
$2,260
ZIP code2 bd3 bd
87031 $1,380$1,920
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for El Cerro Mission when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Valencia County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for El Cerro Mission or Valencia County. The ones below are statewide in New Mexico: they work in El Cerro Mission the same as in the rest of the state.
New Mexico state agency fixed-rate second mortgage for the down payment and closing costs of first-time buyers, together with the FirstHome mortgage.Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).
New Mexico state agency fixed $7,000 second mortgage for the down payment and closing costs of low-income first-time buyers; no monthly payments and forgivable after 10 years.Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).
New Mexico state agency fixed $10,000 third loan at 0%, for the down payment only, added to FirstDown or HomeNow; repaid in monthly installments over 15 years.Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).
The HUD-approved agencies closest to the center of El Cerro Mission, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
No legal help resource on our list is for El Cerro Mission or Valencia County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for El Cerro Mission and all of Valencia County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in El Cerro Mission?
The typical home value in El Cerro Mission is $115,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Valencia County it is $223,000.
What is the FHA loan limit in El Cerro Mission?
El Cerro Mission uses the FHA limit for all of Valencia County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in El Cerro Mission?
The typical homeowner in El Cerro Mission pays $819 a year, according to the U.S. Census Bureau. That is 0.71% of the home’s value; in Valencia County, the rate is 0.62%.
Where can I find free help to buy or rent in El Cerro Mission?
We found no HUD-approved counseling agencies with an office in Valencia County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
