Best Affordable Places to Live in New Mexico in 2025

Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

If you like a small-town feel and are looking to save on housing costs, then Portales, home to Eastern New Mexico University, could be a good fit. Cannon Air Force base is nearby, and the peanut and dairy industries also have a significant footprint in the local economy.

Photo credit: Flickr/stephenhanafin , Creative Commons Attribution-ShareAlike 2.0 Generic

Clovis can be a welcome community for those wanting to settle in New Mexico. It’s close to the Texas border, and the Cannon Air Force base is right outside town. The area is known for its rodeo events and music festivals. Locals and visitors enjoy the town’s zoo and 17 parks, as well as checking out the restaurants (from Spanish to Japanese) and breweries.

To compete more effectively in the market when home shopping, think about going through the mortgage preapproval process before your search heats up.

Photo credit: Flickr/Jasperdo , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

Located on Route 66 and featuring an active downtown commercial area, Grants is a welcoming community that is a good fit no matter what stage of life you’re in. El Malpais National Monument, with its jaw-dropping volcanic landscape, is just outside town, and Albuquerque, with its more urban attractions, is about an hour away.

Photo credit: iStock/benedek

Located on a mountain plateau not far from Santa Fe and Taos and many parks and protected lands, Los Alamos is home to the Los Alamos National Laboratory, which is also its main employer. Families might appreciate that, per capita, the population has exceptionally high levels of education, and the high-ranking school district here is appreciated by parents. There are a few primarily science-focused museums for families to explore as well.

If you’re buying one of the more expensive properties here, you might require a jumbo mortgage loan in order to make your purchase.

Photo credit: iStock/WesternWriter

Families are often drawn to the highly ranked public schools in Rio Rancho. When the kids aren’t hard at work, they can enjoy a lot of fun in this community. From outdoor parks to indoor trampoline centers that help beat the summer heat, there’s no shortage of good times to be found in Rio Rancho.

If you enter the market at a competitive moment, it can be wise to understand mortgage prequalification vs. preapproval and the right time in your search to explore these steps.

Photo credit: iStock/DenisTangneyJr

If you’re looking for a kid-friendly city to raise your brood in, Roswell has a lot to offer. From the Chattahoochee River to the many UFO attractions to zoos to cinemas, there is no shortage of family-friendly fun waiting for you in Roswell. Add to that its lower-than-average cost of living, and you may understand why this is a popular community for clans with youngsters.

Photo credit: iStock/Sean Pavone

Young adults often like to skip the sleepy suburbs in favor of a bit more hustle and bustle. With over half a million residents in Albuquerque, the largest city in New Mexico, young adults have a lot of opportunities to meet friends, date, and expand their professional network.

If you’re thinking of purchasing a home, it would be wise to explore first-time homebuyer programs in New Mexico.

Photo credit: iStock/benedek

When first starting out, young adults tend to earn lower salaries, but it can be a smart move to settle in an area with a high earning potential. Home to the University of New Mexico and Los Alamos National Laboratory, Los Alamos offers ample opportunities for growth. It’s also not far from Santa Fe and other larger cities that may offer job options.

Photo credit: iStock/DenisTangneyJr

Roswell can be a great place to make new friends and enjoy single life before settling down to start a family — not to mention the hundreds of job opportunities available, so finding that great first job should be doable. This can be an affordable place to call home when budgeting on an entry-level salary.

Photo credit: iStock/benedek

If you want to live where seniors make up a good chunk of the population, consider Los Alamos, where almost 17% of residents are over the age of 65. It’s easy to meet new people in Los Alamos, thanks to the wide range of attractions like museums, parks, and senior centers.

If you’re planning to buy a home, explore the different types of mortgage loans to see how your payments would be affected by your loan type.

Photo credit: iStock/Esdelval

Located near the Sierra Blanca mountains, this quaint town has a tranquil pace to daily life. A plethora of wineries and riverfront activities is likely to ensure kids and grandkids will keep coming back for fun visits. Exploring the outdoors is a popular way to spend time here (from kayaking to skiing), and just taking in the views of the snow-capped mountains add to the quality of life in Ruidoso, too.

Photo credit: iStock/WesternWriter

Rio Rancho offers a range of retiree amenities through its senior centers and services. The Meadowlark Senior Center provides recreational, social, and educational classes and programs, while the Broadmoor Senior Center serves as an additional hub for lifelong learning, offering health, fitness, and nutrition classes, as well as cultural and technology activities. Rio Rancho’s Senior Services Advisory Board plays a pivotal role in shaping and enhancing these offerings, ultimately enriching the retirement experience there.

Photo credit: iStock/JacobH

Taos residents of any age enjoy the scenery here. Taos lies in the southern Rocky Mountains and is near the Sangre de Cristo range. Williams Lake is a picturesque mountain lake that combines the best of both worlds, mountains and water. There’s also the beloved historic Taos Pueblo less than 10 minutes from the center of town. While homeownership can be pricey, renting can offer an affordable way to enjoy the Taos lifestyle.

Photo credit: iStock/Jeffrey Ross

Aztec is near the Angel Peak Scenic Area and offers more than 30 miles of mountain biking trails, not to mention hiking, bird-watching, and lake access. You can explore the history of the Puebloan ruins or visit the Aztec Speedway for an adrenaline-pumping show.

Photo credit: iStock/Esdelval

Between lakes and wineries, there’s no shortage of ways to enjoy the many recreational options that come with living in Ruidoso, located in the Sacramento Mountains at 6,900 feet elevation. Want every day to feel like a vacation? You’ll fit right into this small town.