San Juan County offers new residents an ample supply and full range of homes and apartments at favorable prices – particularly when compared to other areas of New Mexico and the United States. We dare you to check out San Juan County residential real estate prices to regional cities like Durango and Grand Junction, CO, Flagstaff, AZ, and Santa Fe and Albuquerque, NM!
Whether you’re looking for a townhome on a golf course or a 100-acre horse ranch with dark sky nights, you’ll find it in San Juan County at a price that will likely produce a very pleasant surprise.
Simply put, San Juan County homes provide excellent value on a per square foot basis. According to BestPlaces.net, the median home price in San Juan County is $165,502, compared to $193,200 for New Mexico and $231,200 for the country.
And in addition to benefiting from relatively low-priced residential real estate, San Juan County charges the second lowest property tax rate in New Mexico. According to SmartAsset.com, New Mexico has the nation’s lowest property tax rates at 0.78% and San Juan County is even lower, at 0.643% That would equate to approximately $1,065 in annual property taxes for that San Juan County median home price above. The largest city in San Juan County, Farmington, compares favorably to New Mexico cities like Albuquerque, illustrated in the chart below.
Most housing in San Juan County is owner occupied. U.S. Census Bureau information indicates the owner-occupied housing rate in San Juan County is 71.8% on average from 2014 through 2018. For the same period, the New Mexico rate as a whole averaged 67.6%, while the U.S. average was considerably lower at 63.8%.
The 2019 Farmington MRA reported a total of 51,480 housing units in San Juan County, about half of which were single family units.
Not surprisingly, there’s a vibrant residential real estate market in San Juan County. According to the San Juan County Board of Realtors, 103 residential units were sold in October 2020, at an average selling price of $218,445 after just 67 average days on the market. The median selling home price in October 2020 was $199,900. Click here to view current San Juan County real estate listings.
Rents are just as favorable throughout San Juan County. U.S. Census Bureau data indicates the median gross monthly rent from 2014 to 2018 was $811 in San Juan County, compared to $828 for New Mexico and $1,023 nationally.
For those looking in the affordable housing market, there are 14 affordable housing complexes in San Juan County, the majority of which are in the Farmington Area. The San Juan County Housing Authority is an excellent resource for locating affordable housing options.
Great Opportunities for Developers of Senior Housing Solutions
As the population ages and more people retire to San Juan County to enjoy its affordable, high-quality of life, there is a burgeoning demand for more “senior-friendly” housing and retirement complexes. Contact Four Corners Economic Development if you might be an interested developer. The demand is growing!