Mortgage payment estimates, closing cost breakdowns, and homebuying data for Deming, New Mexico.
Median Home Price
$145K
Population
14K
Avg Monthly Rent
$720
Property Tax Rate
0.8% *
* Property tax shown is the New Mexico state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Deming.
Deming vs New Mexico Median
The median home price in Deming is $145,000, which is 48% below the New Mexico state median of $280,000.
Mortgage Calculator — Deming, NM
Pre-filled with Deming median home price and New Mexico tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $145K home using New Mexico's 0.8% tax rate and $1,900/yr insurance.
5% Down
$1,206/mo
Down: $7,250
Loan: $138K
P&I: $871
Tax: $97
Insurance: $158
PMI: $80
10% Down
$1,156/mo
Down: $14,500
Loan: $131K
P&I: $825
Tax: $97
Insurance: $158
PMI: $76
20% Down (No PMI)
$988/mo
Down: $29,000
Loan: $116K
P&I: $733
Tax: $97
Insurance: $158
Income needed (28% rule): $42K/year with 20% down, $50K/year with 10% down.
Rent vs Buy in Deming
Rent
$720/mo
vs
Buy (10% down)
$1,156/mo
Price-to-rent ratio: 16.8 — A ratio between 15-20 means the rent vs buy decision in Deming depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Deming is $145,000, 48% below the New Mexico state median of $280,000. With a population of 14,083, Deming is a smaller market where home prices tend to be more accessible than in many parts of New Mexico.
Property taxes in New Mexico average 0.8% annually. This moderate property tax rate means a $145,000 home in Deming would carry roughly $97/month in property taxes. Homeowners insurance in New Mexico runs approximately $1,900 per year. This is within the normal range nationally.
Average rent in Deming is $720/month. The price-to-rent ratio in Deming is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Deming offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with New Mexico's MFA First Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Deming.