Measured against area pay, Waterflow costs less to live in than 67% of U.S. towns
Up 14.4% in a year, 25% 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 Farmington, NM metro area ($56K). How TownRatings grades cost of living
The grade compares costs with what households across the Farmington metro earn ($56K, Census 2020–24). The typical home costs 3.0 years of metro income, and 29% of renters pay 30% or more of income for housing.
In dollars
- $236Ktypical home, 25% below the New Mexico typical homeZillow, September 2026
- $1,190a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 88prices across the Farmington metro, where the U.S. is 100 (housing 57)BEA Regional Price Parities, 2024
In paychecks the grade
- 3.0 yrsof area income buys the typical home; the typical U.S. town: 3.3$56K, Farmington-area income
- 34%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 13%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Waterflow?
Read from the numbers below. The page puts what stands out first.
What’s behind Waterflow’s grade
Measured against what households in the area earn, Waterflow is more affordable than 67% of U.S. towns. Rent pulls the grade down most; property tax holds it up.
Values have lagged New Mexico: the typical Waterflow home is up 16.6% in five years, against 25.1% statewide (Zillow).
Up 14.3% in a year
Faster than New Mexico (1.7%).
Show as a table
| January | Waterflow | New Mexico |
|---|---|---|
| 2022 | $202,000 | $261,000 |
| 2023 | $205,000 | $285,000 |
| 2024 | $206,000 | $299,000 |
| 2025 | $222,000 | $310,000 |
| 2026 | $224,000 | $313,000 |
| September 2026 | $236,000 | $316,000 |
A typical Waterflow home worth $199K in February 2021 is worth about $236K 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 34% of area income
The calculator starts from the area income the grade uses. Switch to Waterflow’s own median, or type yours.
That’s $3K short of a typical Waterflow home.
A two-bedroom rents for about $1,190 a month here, $130 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Waterflow’s typical property tax (0.44% 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 $1,190
Renters already here pay a median of $1,572.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Farmington, NM MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Property tax runs below the New Mexico norm
The median bill is $730 (New Mexico: $1,731), 0.44% of a home’s value a year, against 0.70% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Waterflow
Only figures published free for the whole country, each labeled with the area it covers: the Farmington, NM metro area, or New Mexico. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 88 | NM 92 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 96 | NM 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 78 | NM 78 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | NM 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Waterflow vs. its neighbors
Of the 2 towns here with a Zillow value, Waterflow has the lowest.
Questions about the cost of living in Waterflow
Is Waterflow expensive to live in?
Measured against what households in the area earn, Waterflow costs less than 67% of U.S. towns: a B+ for cost of living. The typical home costs 3.0 years of the median household income of the Farmington, NM metro area ($56K).
How much does a house cost in Waterflow?
About $236K, Zillow’s typical value for September 2026, up 14.3% in a year. The New Mexico typical home is $316K.
What salary do you need to live in Waterflow?
To buy the typical home with 20% down at 6.3%, about $57,000 a year, keeping the payment (about $1,320 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $48,000.
How much is rent in Waterflow?
HUD puts a two-bedroom at about $1,190 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,572 (Census 2020–24).
What are property taxes in Waterflow?
The median bill is $730 a year, 0.44% of the median home value (New Mexico: $1,731, 0.70%), from the Census 2020–24.
Are home prices in Waterflow going up?
Yes: up 14.3% in the past year and 16.6% in five years, against 25.1% across New Mexico (Zillow).
Neighbors talk housing
What Waterflow 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. 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.