Quick facts: Eunice, NM

Quick Facts

96.1
Cost of Living
below US average
2,955
Population
19.29
Crime Rate per 1000
below US average
$68,819
Median Income
below US average
$160,000
Median House Price
above US average
$1486
Average Rent
above US average
15%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $68,819.

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Income Needed to Buy

βœ“ Affordable
$50k/year
Based on $160,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($68,819) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$64k/year
Based on $1486/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($68,819) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Eunice, NM

Eunice is a small city situated in Lea County, New Mexico. Known for its rich oil and gas production, Eunice has a population of around 2,500 residents, making it a close-knit community. The city is named after Eunice, Louisiana, and was established in the early 20th century. Eunice offers a mix of small-town charm and access to outdoor activities. The nearby Loco Hills and the Pecos River provide opportunities for fishing, hunting, and other recreational activities. The city also hosts various local events and festivals that celebrate its heritage and community spirit. Eunice is conveniently located near larger towns, such as Hobbs and Carlsbad, allowing residents access to more extensive amenities, shopping, and dining options. Additionally, the city is close to the Carlsbad Caverns National Park, a UNESCO World Heritage Site that attracts tourists with its stunning limestone formations and extensive cave systems. Overall, Eunice embodies a unique blend of rural culture, community engagement, and proximity to natural beauty, making it a distinctive location in southeastern New Mexico.

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