New Mexico - Real Estate
Move to New Mexico
Diverse cultures and unique landscapes lend themselves to New Mexico's official nickname of the Land of Enchantment, giving you a hint at how beautiful and captivating this state is. A hidden treasure of the Southwest, New Mexico is an enchanting place to live with its open vistas, brilliant skies, unique history, fantastic cuisine and year-round recreational activities. Today, New Mexico’s almost 2 million residents are among the United States’ most diverse populations, with an ethnic make-up of approximately 45 percent non-Hispanic, 42 percent Hispanic and almost 10 percent Native American. Known for being one of the best locations in the world to view the night sky, visitors come from the big cities to be amazed by the beauty and brightness of New Mexico’s sky, enticing many of them to make it a permanent home once they’ve experienced the breathtaking surroundings and great pride of the Southwestern communities.
New Mexico’s diverse housing opportunities provide reasonable commuting times to the metro areas and are primarily newly built properties, especially on the west side of the river and in Rio Rancho. Resale activity in the real estate market is also strong with the many older, established neighborhoods retaining their desirability and Southwestern charm. The overall cost of living in Albuquerque is 18% below the national average, with a median home price of $170,800 in the Albuquerque metro areas. Santa Fe is a much more expensive place to live, with median home prices rising above $400,000, with few homes selling for anything below $250,000. Helping to balance the costs of some of the more expensive areas, New Mexico's residential and commercial property taxes are among the lowest in the United States, with tax rates depending on the property type and location.
The Albuquerque – Santa Fe metro area encompasses six major communities, making it the center of the state’s commercial and governmental activities. These cities provide a collective range of economic development activities supported by an educated, growing workforce. The federal government is one of the state’s largest employers, providing more than a quarter of New Mexico’s jobs. The state plays host to three large air force bases, a testing range and an army proving ground, in addition to the many national observatories, research facilities and spacecraft proving grounds. With its vast landscape and natural beauty, the National Park Service, the United States Forest Service and the United States Bureau of Land Management are also large employers.
There are outdoor activities to suit every taste, from rock climbing and caving, to ballooning and hang gliding, to skiing and ice skating, to bird watching and stargazing. If you’re looking for art and culture, New Mexico is home to a thriving art community. Santa Fe has become the nation's third-largest art market after New York and L.A. Georgia O’Keefe was one of the state’s best known artists and visitors can tour O’Keefe museums or wander the many art galleries in Taos or Santa Fe. Other artistic and cultural attractions include the world-renowned Santa Fe Opera and many flamenco performances.
New Mexico’s pleasant, year-round climate is one of its best attributes. Summer brings warm temperatures and low humidity, while winter is mild and mostly sunny. It does snow on occasion, but it rarely lasts more than a day or so. The city of Santa Fe, New Mexico's state capital, lives up to the state's reputation for warm weather and provides residents with more than 300 days of sunshine every year.
To learn more about specific communities in New Mexico, request a Free Relocation Packet prepared by a HomeRoute Preferred™ local community expert. This exclusive guide will be customized to your specific home search and help you prepare for your upcoming move to New Mexico.
Information provided courtesy of HomeRoute.