Mortgage payment estimates, closing cost breakdowns, and homebuying data for Silver City, New Mexico.
Pre-filled with Silver City median home price and New Mexico tax/insurance rates. Adjust for your property.
Estimated closing costs based on New Mexico rates and fees applied to Silver City prices.
The median home price in Silver City is $215,000, 23% below the New Mexico state median of $280,000. With a population of 9,637, Silver City 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 $215,000 home in Silver City would carry roughly $143/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 Silver City is $880/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Silver City 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.