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County in New Mexico

Sierra County, New Mexico

Sierra County, in New Mexico, has 11,500 residents: No. 25 of 33 by population. Sierra County has an FHA limit of $541,287 for one-unit homes. The typical home value here is $152,600. HUD's Fair Market Rent for a 2-bedroom apartment is $1,014 a month; to pay it without spending more than 30% of your income, you need to earn about $19.50 an hour.

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  • Typical home price

    $152,600

    −38% vs. New Mexico −54% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Sierra
    • New Mexico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $1,014 a month

    −21% vs. New Mexico −42% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Sierra
    • New Mexico
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $541,287

    FHA national floor limit

    The most you can borrow with an FHA loan for a one-unit home here.

    • Sierra
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    0.52% of value per year

    −26% vs. New Mexico −45% vs. U.S.

    $789 a year for the typical owner

    • Sierra
    • New Mexico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$180,323
4.2% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Data from October 2026

In short

What is housing like in Sierra County today?

The monthly payment on a typical home with FHA would be about $1,212, that is, 35% of the typical household income in Sierra County. For that payment to be 28% of income, a household would need to earn about $51,953 a year; the typical income here is $41,600. Homes here are worth 38% less than the average across New Mexico. The typical property tax is $789 a year (about 0.52% of home value), lower than in New Mexico.

Renting is a stretch: 51% of renters put 30% or more of their income toward housing.

Sources: U.S. Census Bureau (Average 2020–2024).

Only here

What sets Sierra County apart

  1. From 2020 to 2025, home prices in Sierra County rose 61% on FHFA's index, faster than in New Mexico (50%).

  2. Among the neighboring counties, Luna County has the lowest typical home value ($128,000), 16% below the $152,600 in Sierra County.

  3. At $41,600, Sierra County ranks 3rd among the 32 counties in New Mexico with this figure for the lowest typical household income.

Sources: FHFA (2025 data); U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Sierra County

What homes there are in Sierra County, 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

Homes in Sierra County are varied: detached houses are the largest group, at 47%, against 65% in New Mexico.

Mobile homes are 41% of homes in Sierra County, more than in New Mexico (16%).

Year built

The typical year built in Sierra County is 1983, about the same as in New Mexico (1985).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for this county is high ($541,287): at least 97% of owner-occupied homes in Sierra County are worth less than $500,000.

Monthly rent with utilities

With a HUD fair market rent of $1,014 for 2 bedrooms, at least 73% of rented homes in Sierra County sit below it.

With a mortgage

$1,123 a month

New Mexico: $1,564 a month

Without a mortgage

$372 a month

New Mexico: $451 a month

Owners with a mortgage

30%

New Mexico: 52%

In Sierra County, 30% of owners have a mortgage, and their typical cost is $1,123 a month, against $1,564 in New Mexico. Without one it drops to $372.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Sierra County rose 30%; in New Mexico, it rose 45%.

Rents in Sierra County rose faster than in New Mexico: 36% since 2015–2019, against 26%.

Here income gained ground: typical income rose 40%, against +30% for home values and +36% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSierra CountyNew MexicoUnited States
Rental vacancy Unreliable estimate5.9%5.5%
Homeowner vacancy Unreliable estimate1.0%0.9%
More than one person per room Unreliable estimate3.3%3.4%
People per household 2.072.482.53
Drive alone 72%74%69%
Carpool 10%10%9%
Public transit Unreliable estimate1%3%
Walk or bike Unreliable estimate2%3%
Work from home Unreliable estimate12%15%
Other means Unreliable estimate1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes

Fewer people live in each home here: 2.07 on average, against 2.48 in New Mexico.

To get to work, 72% of workers in Sierra County drive alone; in New Mexico, 74%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Sierra County?

A typical home is tight for the typical income

We start with a typical home of $152,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 35% of the typical household income here, which is $41,600 a year. For that payment to be 28% of income, a household would need to earn about $51,953 a year.

Your numbers

Local data
$

Starts at the typical home value in Sierra County. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,341 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,212

at 7.18% · 30 years

Loan amount
$149,836
Total interest
$215,579
Paid off in
November 2056

Includes $2,577 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $971 a month

  • Tight

    $971 to $1,248 a month

    Your payment · 35%

  • Hard

    more than $1,248 a month

Compared with the typical household income in Sierra County ($41,600 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,212
Principal & interest$1,015
Property tax$66
Home insurance$64
FHA mortgage insurance (MIP)$67

You need at least $5,341 for the down payment, plus closing costs.

Next step

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.

Buying a home

Buying a home in Sierra County

Here you'll see how prices have changed, how Sierra County compares with New Mexico and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

According to the FHFA House Price Index, home prices in Sierra County rose 99% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.

Period Here New Mexico United States
In 2025 +8.3% +3.1% +2.9%
5 years (2020–2025) +61% +50% +47%
10 years (2015–2025) +99% +82% +85%
See each year's change

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Sierra County compared with New Mexico and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Sierra $152,600
  • New Mexico $248,100
  • United States $332,700
Typical rent a month
  • Sierra $729
  • New Mexico $1,067
  • United States $1,413
Typical household income a year
  • Sierra $41,600
  • New Mexico $64,059
  • United States $80,734
See the full table
Sierra compared with New Mexico and the United States
MeasureHereNew MexicoU.S.
Residents11,5002,120,246334,922,499
Typical home value$152,600$248,100$332,700
Typical household income$41,600$64,059$80,734
Typical rent$729$1,067$1,413
Fair Market Rent (2 bedrooms)$1,014$1,282$1,750
Hourly wage to rent a 2-bedroom$19.50$24.65$33.65
Typical property tax$789$1,731$3,119
Effective tax rate0.52%0.7%0.94%
Households that own their home72%70%65%
Renters spending 30% or more on rent51%50%51%
FHA limit (1 unit)*$541,287$541,287$541,287

FHA limit: New Mexico shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Sierra County

For a typical $152,600 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $1,212 $5,341 $149,836 7.18% FHA MIP · $67 $9,919 580
Conventional, 5% down $1,184 $7,630 $144,970 7.18% PMI · $72 $12,208 620*
Conventional, 20% down, no PMI $957 $30,520 $122,080 7.18% None $35,098 620*
ITIN, 15% down (example) $1,098 $22,890 $129,710 8.18% None $27,468 Set by the lender
  • 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.

How much house can I afford? Closing costs

Loan limits

FHA loans in Sierra County use the national floor limit: it isn't a high-cost area. If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $541,287 $832,750
2 units $693,050 $1,066,250
3 units $837,700 $1,288,800
4 units $1,041,125 $1,601,750

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Sierra County

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Sierra County, the typical owner pays $789 a year: about 0.52% of the home's value. That is less than the rest of New Mexico and less than the national average.

  • Sierra 0.52%
  • New Mexico 0.70%
  • United States 0.94%

What New Mexico publishes 3 percent cap on the yearly increase in your home's taxable value (New Mexico Legislative Finance Committee ("Property Taxes in New Mexico" brief))

Exemptions and deadlines in New Mexico

Is there a flood risk?

FEMA’s maps count no homes in high-risk flood zones in Sierra County. That does not mean there is no risk: some areas have no map. Check your address.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in Sierra County

The natural hazards FEMA measures in Sierra County, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

In Sierra County, FEMA rates the natural hazard risk as relatively low.

That rating combines the loss FEMA expects with social vulnerability and community resilience.

The loss FEMA expects each year in Sierra County from all natural hazards is $10.8 million, counting buildings, people and crops.

For homes and buildings, the costliest hazard here is inland flooding, at about $6.8 million in losses a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. Inland floodingRelatively moderate $6.8 million a year
  2. WildfireRelatively low $324,011 a year
  3. EarthquakeVery low $93,598 a year
  4. TornadoVery low $2,401 a year
  5. Winter weatherRelatively low $2,267 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

Sierra County is climate zone 3B in the home energy code (IECC): hot and dry.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)

  • Summer

    • Before extreme heat: cover windows with drapes or shades, weather-strip doors and windows, and insulate around window air conditioners. Ready.gov (FEMA)
    • Keep the air conditioner's drip pan clean and its drain line flowing: a plugged drain can cause water damage in the house. ENERGY STAR (EPA)

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Winter

    • Look for drafts at windows and doors: close the window on a piece of paper; if it moves back and forth easily, it needs thicker weather stripping. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$28.13$18.17 and $45.67
Plumbers, pipefitters and steamfitters$28.56$17.37 and $47.28
Heating, air conditioning and refrigeration mechanics$23.21$17.32 and $34.09
Roofers$25.71$16.69 and $27.84
Carpenters$24.20$17.95 and $34.99
Painters, construction and maintenance$22.13$16.26 and $26.71
Maintenance and repair workers, general$21.50$14.44 and $33.24

In the Eastern New Mexico nonmetropolitan area, half of electricians earn more than $28.13 an hour and half earn less; for a plumber, the typical figure is $28.56.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in Sierra County

The typical rent in Sierra County is $729 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

51% of renter households in Sierra County spend 30% or more of their income on housing. 23% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $706 $13.58 $28,240
1 bedroom $780 $15.00 $31,200
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,404 $27.00 $56,160
4 bedrooms $1,590 $30.58 $63,600

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Sierra County

Programs and counseling in Sierra County

We didn't find counseling agencies near this county.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

A street of new one-story houses in Santa Fe, New Mexico.

HUD counseling is free or low-cost

New Mexico down payment programs

  1. FirstDown

    New Mexico state agency fixed-rate second mortgage for the down payment and closing costs of first-time buyers, together with the FirstHome mortgage

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable Verified November 5, 2026

  2. HomeNow

    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

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Forgivable Verified November 5, 2026

  3. FirstDown Plus

    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

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable Verified November 5, 2026

Which programs do I qualify for? See all New Mexico programs

Help in Spanish in Sierra County

None of the 0 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

They run public housing and Section 8 vouchers (Housing Choice Vouchers) in this county.

  • Housing Authority of the City of Truth or Consequences Public housing and Section 8 vouchers (575) 894-2244

Free legal help

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.

Find legal aid (lsc.gov)

Housing counseling nearby

We didn't find counseling agencies near this county.

Places

Cities in Sierra County

This site has no city pages of Sierra County. The neighboring counties are below.

See all 1 cities of Sierra County

Nearby counties

Each row compares its typical value, typical rent and FHA limit with Sierra County.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Sierra County in 2026?

Sierra County has an FHA limit of $541,287 for a one-unit home. For 2 units it's $693,050, for 3 it's $837,700 and for 4 it's $1,041,125. It's the national floor limit.

What is the conforming loan limit in Sierra County?

Sierra County has a conforming limit of $832,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Sierra County?

The typical home value in Sierra County is $152,600 (Average 2020–2024, U.S. Census). Across New Mexico it's $248,100.

How much does it cost to rent in Sierra County?

Sierra County has a typical rent of $729 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $1,014 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Sierra County?

About $19.50 an hour working full time (2,080 hours a year), or $40,560 a year, so the fair market rent of $1,014 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).