Side-by-side comparison of home prices, mortgage payments, and housing costs between Farmington and Roswell, New Mexico. Using New Mexico's 0.8% property tax rate and $1,900/year insurance. Updated for 2026.
Roswell edges out Farmington in affordability, saving you roughly $269/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 Roswell saves you approximately $269/month ($3,228/year) compared to Farmington, based on median home prices with identical loan terms.
Roswell is the better choice for first-time buyers, with a median price of $175K versus $215K in Farmington. That's $40K less to save for a down payment. You'd need roughly $6K for an FHA 3.5% down payment in Roswell, compared to $8K in Farmington. New Mexico offers the MFA First Home program (FIRSTDown DPA assistance) which applies in both cities.
Roswell has the better price-to-rent ratio at 16.6x versus 19.5x in Farmington. A lower ratio generally signals better rental income relative to purchase price. Average rent in Roswell is $880/month on a $175K median home, making it a stronger candidate for buy-and-rent investors.
Roswell (pop. 48,366) offers more amenities, schools, and services typical of a larger city, while Farmington (pop. 44,372) may offer a quieter, more community-oriented lifestyle. Roswell offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.