How many renters can afford a median-priced home in New Mexico?

In New Mexico, just 13.5% of renters can afford to buy a median-priced home, which costs $345,000, while the median household income is $62,125. In the United States overall, 21.6% of renters can afford a median-priced home at $404,400, with a median household income of $78,538.

Based on the U.S. Department of Housing and Urban Development's definition of "affordable housing," where total housing costs (mortgage, insurance, utilities) do not exceed 30% of a household's monthly income. Data is unavailable for Harding and De Baca counties.
Chart: Natalie Robbins/JournalSource: Housing New MexicoCreated with Datawrapper