Side-by-side comparison of home prices, mortgage payments, and housing costs between Clovis and Gallup, New Mexico. Using New Mexico's 0.8% property tax rate and $1,900/year insurance. Updated for 2026.
Gallup edges out Clovis in affordability, saving you roughly $67/month on total housing costs. Both cities are in New Mexico, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses New Mexico's 0.8% property tax rate.
Buying in Gallup saves you approximately $67/month ($804/year) compared to Clovis, based on median home prices with identical loan terms.
Gallup is the better choice for first-time buyers, with a median price of $175K versus $185K in Clovis. That's $10K less to save for a down payment. You'd need roughly $6K for an FHA 3.5% down payment in Gallup, compared to $6K in Clovis. New Mexico offers the MFA First Home program (FIRSTDown DPA assistance) which applies in both cities.
Gallup has the better price-to-rent ratio at 17.2x versus 17.5x in Clovis. A lower ratio generally signals better rental income relative to purchase price. Average rent in Gallup is $850/month on a $175K median home, making it a stronger candidate for buy-and-rent investors.
Clovis (pop. 38,721) offers more amenities, schools, and services typical of a larger city, while Gallup (pop. 21,899) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Gallup, where lower housing costs free up more income for childcare, education, and savings.