City · 13,000 residents · San Miguel County, New Mexico
Las Vegas, New Mexico
In Las Vegas, a typical home is worth $155,300 and typical rent is $792 a month. Compared with all of San Miguel County, the typical home value is 18% lower, typical household income is 9% lower, and the share of households that own their home is 16 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $202,661 to $228,892.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Las Vegas is in San Miguel 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 San Miguel County. See the county
What this place has that others do not, from public data, most unusual first.
1
According to Zillow, in the 12 months to September 2026 the typical home value in Las Vegas rose 8.9%; in New Mexico, it rose 1.7%.
2
57% of households in Las Vegas own their home, against 73% in San Miguel County.
3
The typical home in Las Vegas is worth $155,300,18% less than in San Miguel County as a whole ($188,500).
Sources: Zillow (September 2026 data); U.S. Census Bureau (Average 2020–2024). Zillow data
The homes here
Housing in Las Vegas
What homes there are in Las Vegas, 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
Las Vegas
San Miguel County
New Mexico
United States
Kind of home: Las Vegas and its comparisons
Measure
Las Vegas
San Miguel County
New Mexico
United States
Detached house
53%
56%
65%
61%
Attached house
Unreliable estimate
2%
4%
6%
Building of 2 to 4
12%
6%
6%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
10%
19%
Mobile home
20%
30%
16%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Las Vegas (53%), but less so than in San Miguel County (56%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Las Vegas
San Miguel County
New Mexico
United States
Year built: Las Vegas and its comparisons
Measure
Las Vegas
San Miguel County
New Mexico
United States
Before 1960
37%
26%
17%
26%
1960–1979
30%
26%
26%
24%
1980–1999
26%
32%
32%
25%
2000–2009
6%
11%
16%
14%
2010 or later
Unreliable estimate
5%
10%
11%
Homes in Las Vegas are older: the typical year built is 1969; in San Miguel County, 1979.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K34%
$100K–$200K30%
$200K–$300K22%
$300K–$500K9%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Las Vegas and its comparisons
Measure
Las Vegas
Under $100K
34%
$100K–$200K
30%
$200K–$300K
22%
$300K–$500K
9%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable
At least 95% of owner-occupied homes in Las Vegas are worth less than $500,000, below the FHA loan limit for San Miguel County ($541,287).
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50031%
$500–$99939%
$1,000–$1,49926%
HUD fair market rent, 2 bedrooms: $1,077
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Las Vegas and its comparisons
Measure
Las Vegas
Under $500
31%
$500–$999
39%
$1,000–$1,499
26%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable estimate
By rent, most homes in Las Vegas cost less than HUD's 2-bedroom fair market rent ($1,077): about 73%.
With a mortgage
$1,404 a month
San Miguel County: $1,418 a month
Without a mortgage
$460 a month
San Miguel County: $453 a month
Owners with a mortgage
39%
San Miguel County: 29%
Owning costs about the same in Las Vegas as in San Miguel County: with a mortgage, $1,404 a month; without one, $460.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Las Vegas+32%
San Miguel County+40%
New Mexico+45%
United States+53%
Typical rent
Las Vegas+30%
San Miguel County+25%
New Mexico+26%
United States+33%
Typical household income
Las Vegas+70%
San Miguel County+60%
New Mexico+29%
United States+29%
Change since 2015–2019: Las Vegas and its comparisons
Measure
Las Vegas
San Miguel County
New Mexico
United States
Typical home value
+32%
+40%
+45%
+53%
Typical rent
+30%
+25%
+26%
+33%
Typical household income
+70%
+60%
+29%
+29%
Homes in Las Vegas gained value more slowly than in San Miguel County: 32% since 2015–2019, against 40%.
The typical rent in Las Vegas rose 30% over the same time; in San Miguel County, it rose 25%.
Income in Las Vegas grew faster than housing: it rose 70%, while home values changed +32% and rent +30%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Las Vegas and its comparisons
Measure
Las Vegas
San Miguel 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
Unreliable estimate
3.3%
3.4%
People per household
2.02
2.16
2.48
2.53
Drive alone
73%
74%
74%
69%
Carpool
13%
10%
10%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
3%
2%
3%
Work from home
9%
11%
12%
15%
Other means
Unreliable estimate
Unreliable estimate
1%
2%
Typical commute
Unreliable estimate
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
On average, a household in Las Vegas has 2.02 people, fewer than in San Miguel County (2.16).
In Las Vegas, 73% of workers drive alone to work; in San Miguel County, 74%.
Do the math
What would you pay each month for a home in Las Vegas?
A typical home is tight for the typical income
We start with a typical home in Las Vegas, worth $155,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Las Vegas, which is $45,125 a year. For that payment to be 28% of income, a household would need to earn about $53,982 a year.
The calculator's FHA and conventional loan limits are those of all of San Miguel 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 Las Vegas. 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 $5,436 (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
$1,260
at 7.18% · 30 years
Loan amount
$152,487
Total interest
$219,392
Paid off in
November 2056
Includes $2,623 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,053 a month
Tight
$1,053 to $1,354 a month
Your payment · 33%
Hard
more than $1,354 a month
Compared with the typical household income in Las Vegas ($45,125 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,033
Property tax
$93
Home insurance
$65
FHA mortgage insurance (MIP)
$69
You need at least $5,436 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 $1,260; principal and interest $1,033.
The city and its county
Las Vegas and San Miguel County
Las Vegas is in San Miguel 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).
Las Vegas
Map of San Miguel County, New Mexico, with Las Vegas marked. Around it, the neighboring counties.
Las Vegas
San Miguel County
Other cities with a page
Las Vegas's own numbers
Typical home value
$155,300
Typical monthly rent
$792
Typical yearly household income
$45,125
Households that own their home
57%
Effective property tax rate
0.72%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of San Miguel County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,077
Price change over 5 years (FHFA)
+61%
Homes in a high flood-risk zone
8.7%
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 San Miguel County.
A typical home in Las Vegas is worth $155,300: 18% below the county and 37% below New Mexico. With the typical household income in Las Vegas ($45,125 a year), a typical home costs 3.4 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.
Las Vegas3.4 years
San Miguel3.8 years
New Mexico3.9 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in San Miguel County
According to FHFA’s house price index, home prices in San Miguel County rose 80% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of San Miguel County.
Yearly change in FHFA’s price index in San Miguel County, 2016 to 2025
2016: +4.5% +4.5% 2016
2017: +1.2% +1.2% 2017
2018: −2.8% −2.8% 2018
2019: +7.0% +7.0% 2019
2020: +1.5% +1.5% 2020
2021: +10.5% +10.5% 2021
2022: +16.4% +16.4% 2022
2023: +9.4% +9.4% 2023
2024: −0.6% −0.6% 2024
2025: +14.9% +14.9% 2025
Change in FHFA’s price index in San Miguel County, New Mexico and the United States
Period
County
New Mexico
U.S.
Last year (2025)
+14.9%
+3.1%
+2.9%
5 years (2020–2025)
+61%
+50%
+47%
10 years (2015–2025)
+80%
+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
Las Vegas next to San Miguel 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
Las Vegas$155,300
San Miguel$188,500
New Mexico$248,100
United States$332,700
Typical monthly rent
Las Vegas$792
San Miguel$823
New Mexico$1,067
United States$1,413
Typical yearly household income
Las Vegas$45,125
San Miguel$49,431
New Mexico$64,059
United States$80,734
See the full table
Las Vegas next to San Miguel County and New Mexico
Measure
Las Vegas
San Miguel County
New Mexico
U.S.
Typical home value
$155,300 ▼18% below the county
$188,500
$248,100
$332,700
Typical monthly rent
$792 ▼4% below the county
$823
$1,067
$1,413
Typical yearly household income
$45,125 ▼9% below the county
$49,431
$64,059
$80,734
Households that own their home
57% ▼16 points below the county
73%
70%
65%
Typical yearly property tax
$1,121 ▲4% above the county
$1,081
$1,731
$3,119
Effective property tax rate
0.72% ▲0.15 points above the county
0.57%
0.7%
0.94%
Renters with high rent for their income
56%
56%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below San Miguel 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 Las Vegas
For a typical $155,300 home in Las Vegas, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Las Vegas's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,260a month
Least cash to close
Down payment
$5,436
Cash to close
$10,095
Rate
7.18%
Mortgage insurance
FHA MIP · $69
Conventional, 5% down$1,231a month
Down payment
$7,765
Cash to close
$12,424
Rate
7.18%
Mortgage insurance
PMI · $74
Conventional, 20% down, no PMI$1,000a month
Down payment
$31,060
Cash to close
$35,719
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,143a month
Down payment
$23,295
Cash to close
$27,954
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Las Vegas
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,260
$5,436
$152,487
7.18%
FHA MIP · $69
$10,095
580
Conventional, 5% down
$1,231
$7,765
$147,535
7.18%
PMI · $74
$12,424
620*
Conventional, 20% down, no PMI
$1,000
$31,060
$124,240
7.18%
None
$35,719
620*
ITIN, 15% down (example)
$1,143
$23,295
$132,005
8.18%
None
$27,954
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 Las Vegas and for San Miguel County.
Property tax
Effective rate in Las Vegas
0.72%of the home’s value each year
$1,121 a year for the typical owner in Las Vegas.
Las Vegas0.72%
San Miguel0.57%
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))
Typical rent in Las Vegas is $792 a month: 4% below the county. In Las Vegas, 56% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of San Miguel County, by unit size. To pay the 2-bedroom one ($1,077 a month) without spending more than 30% of your income, you would need to earn $20.71 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 San Miguel County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$796
$15.31
$31,840
1 bedroom
$925
$17.79
$37,000
2 bedrooms
$1,077
$20.71
$43,080
3 bedrooms
$1,491
$28.67
$59,640
4 bedrooms
$1,689
$32.48
$67,560
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 Las Vegas
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Las Vegas is in ZIP code 87701.
For 2 bedrooms it is $1,070: $7 less than the fair market rent for San Miguel County ($1,077).
Fair market rent by ZIP code and size in Las Vegas, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
87701
$790
$920
$1,070
$1,480
$1,680
ZIP code2 bd3 bd
87701 $1,070$1,480
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Las Vegas 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)
HUD lists 11 buildings with rents for lower incomes in Las Vegas. These are the largest.
Las Vegas2120 Hot Springs Blvd, Las Vegas 87701262 homes, 260 low-income · Run by Northern Regional Housing Authority · Average payment: $421 a month · Average wait: 6 months · Homes at several sites(505) 425-9463
Monte Vista500 Mountain View Dr, Las Vegas 8770170 low-income homes · For families(505) 454-0098
Villa Las Vegas200 Mountain View Dr, Las Vegas 8770160 low-income homes · 2 bd: 16 · 3 bd: 44 · In service since 2002
Gallinas Valley Apts2612 7th St, Las Vegas 8770144 low-income homes
Kristin Park Apts1000 Mora Ave, Las Vegas 8770144 low-income homes
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 San Miguel 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 Las Vegas or San Miguel County. The ones below are statewide in New Mexico: they work in Las Vegas 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).
No legal help resource on our list is for Las Vegas or San Miguel 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 Las Vegas and all of San Miguel 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 Las Vegas?
The typical home value in Las Vegas is $155,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in San Miguel County it is $188,500.
How much does it cost to rent in Las Vegas?
Typical rent in Las Vegas is $792 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in San Miguel County is $1,077.
What is the FHA loan limit in Las Vegas?
Las Vegas uses the FHA limit for all of San Miguel 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 Las Vegas?
The typical homeowner in Las Vegas pays $1,121 a year, according to the U.S. Census Bureau. That is 0.72% of the home’s value; in San Miguel County, the rate is 0.57%.
Where can I find free help to buy or rent in Las Vegas?
We found no HUD-approved counseling agencies with an office in San Miguel County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
