Peter and Henriette Wyeth Hurd House · Photo: Ammodramus · CC0Measured against area pay, Ruidoso Downs costs more to live in than 74% of U.S. towns
It ranks #59 of 72 in New Mexico for affordability. Down 1.2% in a year, 30% below the New Mexico typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Ruidoso, NM micro area ($53K). How TownRatings grades cost of living
Only 2 sales in September 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Ruidoso-area micro earn ($53K, Census 2020–24). Even so, the typical home costs 2.9 years of area income, and 71% of renters pay 30% or more of income for housing.
In dollars
- $221Ktypical home, 30% below the New Mexico typical homeZillow, September 2026
- $970a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 2.9 yrsof area income buys the typical home; the typical U.S. town: 3.3$53K, Ruidoso-area income
- 21%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 71%of renters pay 30%+ of income for housing; across New Mexico: 50%Census 2020–24
- 12%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Ruidoso Downs
Prices are 17% below their 2023 peak
The typical Ruidoso Downs home peaked at $267K in May 2023 and is worth about $221K now. Across New Mexico, values are at or near their high. Over five years, Ruidoso Downs is down 10%. Price trend ↓
About two in three renters are stretched
71% of renter households spend 30% or more of their income on rent, against 50% across New Mexico. A standard two-bedroom would take 37% of the median household income. Renting ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Ruidoso Downs’ grade
Measured against what households in the area earn, Ruidoso Downs is more affordable than 26% of U.S. towns, #59 of 72 in New Mexico. The share of households paying 30%+ for housing pulls the grade down most; home prices hold it up.
Values have lagged New Mexico: the typical Ruidoso Downs home is down 10.1% in five years, against 25.1% statewide (Zillow).
Down 10.1% in five years
Slower than New Mexico (25.1%).
Show as a table
| January | Ruidoso Downs | New Mexico |
|---|---|---|
| 2017 | $178,000 | $177,000 |
| 2018 | $184,000 | $183,000 |
| 2019 | $203,000 | $191,000 |
| 2020 | $199,000 | $203,000 |
| 2021 | $230,000 | $228,000 |
| 2022 | $254,000 | $261,000 |
| 2023 | $251,000 | $285,000 |
| 2024 | $241,000 | $299,000 |
| 2025 | $229,000 | $310,000 |
| 2026 | $229,000 | $313,000 |
| September 2026 | $221,000 | $316,000 |
A typical Ruidoso Downs home worth $177K in October 2016 is worth about $221K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A year’s rent takes 21% of area income
The calculator starts from the area income the grade uses. Switch to Ruidoso Downs’s own median, or type yours.
That’s $8K short of a typical Ruidoso Downs home.
A two-bedroom rents for about $970 a month here, $320 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the New Mexico typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $970
Renters already here pay a median of $936.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lincoln County, NM): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Ruidoso Downs in 2025. The last year with any was 2024 (3 new homes).
Between the 2010 and 2020 censuses, Ruidoso Downs's population fell by 195 even though 2 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. 15% of Ruidoso Downs's homes are seasonal or vacation homes, which adds housing without adding residents. Across New Mexico: 1.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $300,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 3 | 3 | 0 | $900,000 |
| 2023 | 4 | 4 | 0 | $1.1 million |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 3 | 3 | 0 | $314,000 |
| 2020 | 2 | 2 | 0 | $274,000 |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 1 | 1 | 0 | $33,000 |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 1 | 1 | 0 | $341,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 3 | 3 | 0 | $438,000 |
| 2008 | 1 | 1 | 0 | $32,000 |
| 2007 | 1 | 1 | 0 | $121,000 |
| 2006 | 1 | 1 | 0 | $250,000 |
| 2005 | 4 | 4 | 0 | $679,000 |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Ruidoso Downs vs. its neighbors
Of the 2 towns here with a Zillow value, Ruidoso Downs has the lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Ruidoso Downs | C | $221K | $154K | — | $970 |
| Ruidoso | C− | $321K | $244K | 0.65% | $1,030 |
Questions about the cost of living in Ruidoso Downs
Is Ruidoso Downs expensive to live in?
Measured against what households in the area earn, Ruidoso Downs costs more than 74% of U.S. towns: a C for cost of living, #59 of 72 in New Mexico. The typical home costs 2.9 years of the median household income of the Ruidoso, NM micro area ($53K).
How much does a house cost in Ruidoso Downs?
About $221K, Zillow’s typical value for September 2026, down 1.2% in a year. The New Mexico typical home is $316K.
What salary do you need to live in Ruidoso Downs?
To buy the typical home with 20% down at 6.3%, about $55,000 a year, keeping the payment (about $1,290 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $39,000.
How much is rent in Ruidoso Downs?
HUD puts a two-bedroom at about $970 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $936 (Census 2020–24).
Are home prices in Ruidoso Downs going up?
No: down 1.2% in the past year and -10.1% in five years, against 25.1% across New Mexico (Zillow).
Neighbors talk housing
What Ruidoso Downs buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.