The Market for Affordable Housing in Taos, New Mexico

This study documents the extent to which home owner ship is beyond the means of households with permanent residence in Taos County. During the 2006-2010 (first quarter) study period, only four percent of housing units sold in the county would have been affordable to the one-third of full-time households with the lowest incomes; most of these housing units were condominiums. From the opposite perspective, fewer than 15 percent of full -time households could afford the median price of a home sold in Taos County during the period. As we narrow our focus to households who depend on local employment for their income, the mismatch becomes even more severe. Fewer than five percent of working households could afford the median price of a home in Taos County during the four-year period. (Authors: Jeffrey Mitchell, Michael O'Donnell)