Cost of Living in Lovington
Lovington's cost of living centers on genuinely affordable housing, offset by a property tax rate running above New Mexico's own statewide median and a real, disclosed rent spread.
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Learn moreGenuinely affordable housing, with a disclosed spread
Redfin's median sale price ran approximately $254,924-$255,000 (up 8.5% YoY), while Zillow's typical home value ran notably lower at $190,604 (up 12.3% YoY) -- a real, disclosed spread, though both run below the ~$393,134 national median (base record).
A real, disclosed rent spread
One source cites an average rent of approximately $905/month, while a separate source cites a notably higher average of approximately $1,444/month -- a real, disclosed two-way spread this record does not resolve to one figure (base record).
A property tax rate above NM's own statewide median
Ownwell's cited 0.97%-0.98% effective property tax rate runs below the national median (~1.02%) but above New Mexico's own statewide median (~0.86%) -- a real, disclosed wrinkle, and cited as the highest rate within Lea County (base record).
New Mexico's real 5.9% top income tax rate
New Mexico's real, current 6-bracket income tax (1.5% to 5.9%) applies in Lovington as statewide (base record).
Key takeaways
- Lovington's housing runs affordable, though Redfin ($254,924-$255,000) and Zillow ($190,604) show a real, disclosed spread.
- Rent carries a real, disclosed spread ($905-$1,444/month across sources).
- Lovington's property tax rate runs above New Mexico's own statewide median, despite running below the national median.
- New Mexico's 5.9% top income tax rate applies statewide, including in Lovington.
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