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Hernandez

Learn about the people, housing, costs and businesses in Hernandez, New Mexico

Median Home$234,667
Median Rent$960/month
Population733
Leading IndustriesArts, Food & Hospitality · Healthcare · Public Administration15% arts, food & hospitality
Home Value Growth⬆⬆+20.3% over 2 years
Retirees48% of residentstop 1% nationally
Homeowners79% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
Hernandez
NM

Frequently Asked Questions

What are today's mortgage rates in Hernandez?

As of today, the 30-year fixed mortgage rate for Hernandez is approximately 7.006% (7.046% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Hernandez?

The median home value in Hernandez is $235k. The median monthly rent is $960. Annual property taxes average $983. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hernandez?

Home values in Hernandez have increased 20.3% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Hernandez?

Based on a typical all-in ownership cost of $537/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $23k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hernandez is $56k/year.

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What industries drive the economy in Hernandez?

The largest employment sectors in Hernandez are public administration (31%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.