Mortgage payment estimates, closing cost breakdowns, and homebuying data for Raton, New Mexico.
Median Home Price
$135K
Population
6K
Avg Monthly Rent
$680
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 Raton.
Raton vs New Mexico Median
The median home price in Raton is $135,000, which is 52% below the New Mexico state median of $280,000.
Mortgage Calculator — Raton, NM
Pre-filled with Raton median home price and New Mexico tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $135K home using New Mexico's 0.8% tax rate and $1,900/yr insurance.
5% Down
$1,134/mo
Down: $6,750
Loan: $128K
P&I: $811
Tax: $90
Insurance: $158
PMI: $75
10% Down
$1,087/mo
Down: $13,500
Loan: $122K
P&I: $768
Tax: $90
Insurance: $158
PMI: $71
20% Down (No PMI)
$931/mo
Down: $27,000
Loan: $108K
P&I: $683
Tax: $90
Insurance: $158
Income needed (28% rule): $40K/year with 20% down, $47K/year with 10% down.
Rent vs Buy in Raton
Rent
$680/mo
vs
Buy (10% down)
$1,087/mo
Price-to-rent ratio: 16.5 — A ratio between 15-20 means the rent vs buy decision in Raton 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 Raton is $135,000, 52% below the New Mexico state median of $280,000. With a population of 6,180, Raton 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 $135,000 home in Raton would carry roughly $90/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 Raton is $680/month. The price-to-rent ratio in Raton is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Raton 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 Raton.