Rent to own Homes in Alamogordo, NM
Alamogordo, founded in 1898 during the construction of the El Paso and Northeast Railroads, was one of the first planned communities in the country. Now home to a population of just over 35,500, it's also the county seat of Otero County. Just 15 minutes from White Sands National Monument, and minutes from the Sacramento Mountains, "Alamo" (as it is called by the locals) enjoys a rich history and plenty of natural beauty.
Alamogordo, NM is a great place for affordable rent-to-own homes! With a median household income of over $45,786 and a median rent of $787, the Alamogordo, NM rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Alamogordo, NM. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Alamogordo, NM is seeing rapid growth and Alamogordo, NM's' housing market remains optimal with an average home price that is -42% below the 2024 national average. Alamogordo, NM is part of Otero county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Otero is 0.58% which is below the national average, which is 0.99%.
Median Home Price in Alamogordo, NM
Median Rent in Alamogordo, NM
Top 6 Reasons to Live in Alamogordo, NM
The oldest zoo in the Southwest! The Alameda Park Zoo, which is also the smallest zoo to enjoy AZA accreditation, is located here and is open year-round for visitors. The community also has a dog park, called Bark Park, near Grigg's Ballfields on Fairgrounds Road.
Toy Train Depot! This former full-sized train depot from Corona, NM, was moved to Alamogordo and turned into the Toy Train Depot museum. Enjoy the exhibits and also the beautiful train rides through Alameda Park, sponsored by America's National Park Ride Train Museum.
Cheaper home prices! Home prices on all types of housing, including rent to own homes and homes for sale, are well below the national average. The median home price is just $116,859, nearly $50,000 lower than the state average. Despite the low prices, Alamogordo has all the amenities of a thriving community, including Gerald Champion Memorial Hospital, the Alamogordo Public Library and six public safety stations spread throughout town.
Lower property taxes! In 2001, the city received $1.25 million in rent abatement and lower property taxes from Otero County. Median property taxes were just $753 in 2012. Rental rates are lower too, with the median gross rent running $657. Despite this, the community enjoys many amenities, from historical and science museums to outdoor preserves that protect national treasures like the Six Jornada Mogollon Villages and the Parabolic Dune Hearth Mounds.
Mountain highs! Bordered in the east by the Sacramento mountains, Alamogordo is also home to the Sunspot Solar Observatory, where you can see the center of the solar system. The Space Center, the New Mexico Museum of Space History and the International Space Hall of Fame can be found here as well.
Big on fun! There are numerous entertainment option in Alamogordo. Space City Bowling Center, Rollarena Skating Rink and Active Fun Golf Games & Go-Karts provide plenty of fun for patrons of all ages.