Median Home PriceBETTER
$259,731.52
Median RentBETTER
$1,415.42/mo
Price-to-Rent RatioBETTER
15.3
Property Tax RateTIE
0.80%
Price Change (1Y)BETTER
+1.7%
Price Change (5Y)BETTER
+8.7%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$104,331
Median Home Price
$285,597.84
Median Rent
$1,459.16/mo
Price-to-Rent Ratio
16.3
Property Tax RateTIE
0.80%
Price Change (1Y)
-0.8%
Price Change (5Y)
-3.8%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$123,356
Key Differences
Home Prices
Farmington's median home price of $259,731.52 is lower than Las Cruces's $285,597.84 by 9%.
Monthly Rent
Renting in Farmington costs $1,415.42/mo compared to $1,459.16/mo in Las Cruces—a difference of $43.74/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.