Rent to own Homes in Las Vegas, NM
The name Las Vegas is often associated with the glamorous gambling capital in Nevada; not many people know of the hidden gem called Las Vegas in New Mexico. However, Las Vegas, NM is not only older, but it was also much more popular than its counterpart in Nevada until the 1900s. An important stop in the Santa Fe Trail of the 19th century, Las Vegas today proudly displays over 900 grand structures listed in the National Register of Historic Places.
Las Vegas, NM is a great place for affordable rent-to-own homes! With a median household income of over $30,877 and a median rent of $609, the Las Vegas, 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 Las Vegas, 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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Las Vegas, NM is seeing rapid growth and Las Vegas, NM's' housing market remains optimal with an average home price that is -44% below the 2024 national average. Las Vegas, NM is part of San Miguel 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 San Miguel is 0.51% which is below the national average, which is 0.99%.
Median Home Price in Las Vegas, NM
Median Rent in Las Vegas, NM
Top Five Reasons to Live In Las Vegas, New Mexico
See your dollar travel far! One of the best advantages of living in Las Vegas, NM is the low cost of living. Housing, in particular, is noticeably cheaper here. Invest in a rent to own home in Las Vegas and observe how much more affordable it is compared to neighboring towns. Other daily needs are also inexpensive here; the Tri-County farmers' market at the Plaza Park and local farms like The Ranch offer fresh and wholesome produce at easy rates.
Pause at the historical treasures! History is alive in Las Vegas, and it's revered. It's hard to take a walk anywhere in this town without seeing at least one of its hundreds of historical architectural treasures. The Plaza Hotel, near the Plaza Park, which marks the place where Las Vegas was founded, is one of the most popular historic landmarks and is still a good place to stay in. There are several other attractions, like the Railroad District, Carnegie Park and Lincoln Park.
Travel through breathtaking outdoors! With the Great Plains and the Sangre De Cristo Mountains as its neighbors, Las Vegas has plenty to offer to people who love the outdoors. Once you settle into your rental home in the neighborhood of Las Vegas, all you have to do is plan your time and route to explore the vast outdoors, one direction at a time. Places like the Las Vegas Wildlife Refuge and the Montezuma Hot Springs are amazing to visit.
Live amid historical landmarks! According to the city data website, the mean price of housing units in 2011 was $101,850 and the median rent in 2012 was $553. Historically divided into the old town and the new town, Las Vegas displays different styles of architecture in each of its quarters. No matter where you find your property, you can be sure you'll have a landmark nearby that's probably over a hundred years old. Many of these landmarks come with a charming history, like the Carnegie Library or the 1st National Bank Building.
Terrific Mexican food! Breakfast on burritos at Charlie's Spic and Span Bakery and eat a sumptuous lunch at Original Johnny's Kitchen. For a date with history, visit the Landmark grill at Plaza Hotel, and then end the day with a heartwarming pizza at JC's New York Pizza.