1st Advantage MortgageThe median Eddy County household earns $78,426, and 14% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's New Mexico license first.
On this page
- Eddy County, NM: the basics
- Renting and owning in Eddy County
- What Eddy County households earn
- Employment and commuting in Eddy County
- Places inside Eddy County
- Eddy County next to its neighbors
- Who lives in Eddy County, in numbers
- Local borrowing considerations for Eddy County
- Room for a loan payment in Eddy County
- Steps before you apply in Eddy County
- Lender oversight for Eddy County
- More guides for Eddy County
- Frequently asked questions
Eddy County, NM: the basics
Eddy County is home to about 61,105 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 11th most populous of 33 county-level areas in New Mexico. Land area is 4,176 square miles (2024 Gazetteer), so density runs near 15 per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 12 Census places inside Eddy County, Carlsbad leads by population with about 31,746; 4 of the 12 are incorporated.
Renting and owning in Eddy County
A typical Eddy County rental runs $1,245 a month including utilities, which is 17% above New Mexico. By the Census definition, 36% of Eddy County renters are cost-burdened. With a median value of $212,600, a typical Eddy County house costs 2.7 times what the median household earns in a year. 73% of Eddy County households own their home and 27% rent.
| Cost | Eddy County | New Mexico figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $1,245/mo | $1,067/mo | $877/mo |
| Median home value | $212,600 | $248,100 | $185,300 |
| Owners | 73% | 70% | 75% |
| Rent-burdened renters | 36% | 50% | 45% |
| Burdened owners | 20% | 29% | n/a |
| Vacant units | 12% | 12% | n/a |
Because most Eddy County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
What Eddy County households earn
The median household income in Eddy County is $78,426; statewide it is $64,059, so Eddy County runs 22% above New Mexico as a whole.
| Household income | Eddy County | vs New Mexico |
|---|---|---|
| Under $35,000 | 26.2% | -2.4 pts |
| $35,000 to $99,999 | 34.9% | -5.6 pts |
| $100,000 to $199,999 | 28.8% | +5.7 pts |
| $200,000 or more | 10.0% | +2.2 pts |
The spread is wide: 39% of Eddy County households make $100,000 or more, and 26% make less than $35,000. Census counts 13.8% of Eddy County residents in poverty, against 17.8% across New Mexico. Income inequality, measured by the Gini index, comes to 0.453 here. A household earning below the $78,426 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Employment and commuting in Eddy County
The biggest employer of Eddy County residents, by industry, is education and health care at 19% of workers, followed by agriculture, forestry and mining (16%). Compared with New Mexico, the county leans toward agriculture, forestry and mining (16% against 4%). Averaged over the five survey years, 5.5% of the labor force was out of work and looking. 14% of commuters travel 45 minutes or more each way, and 7% work from home. 4.7% of households have no vehicle.
| Top industries | Eddy County share | +/- vs New Mexico |
|---|---|---|
| Education and health care | 19.0% | -6.7 pts |
| Agriculture, forestry and mining | 15.6% | +12.0 pts |
| Retail trade | 10.9% | +0.2 pts |
| Professional and administrative services | 10.7% | -2.2 pts |
| Construction | 10.0% | +2.4 pts |
| Public administration | 6.3% | -1.0 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Places inside Eddy County
12 Census places fall mainly inside Eddy County; the 12 biggest are below. They account for 50,152 residents, leaving about 18% of the county in unincorporated, unnamed areas. Among places of 500 or more people, median income runs from $43,884 in Loving to $83,704 in Atoka. Rent is cheapest in Happy Valley ($1,115) and steepest in Loving ($1,327). No Eddy County place has a separate guide yet; this county page serves all 12.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Carlsbad | city | 31,746 | $72,306 | $1,236 | 5 mi |
| Artesia | city | 12,576 | $74,915 | $1,288 | 28 mi |
| Loving | village | 1,357 | $43,884 | $1,327 | 17 mi |
| Atoka | CDP | 1,347 | $83,704 | $1,157 | 23 mi |
| La Huerta | CDP | 1,288 | $78,861 | n/a | 5 mi |
| Happy Valley | CDP | 845 | $62,215 | $1,115 | 2 mi |
| Livingston Wheeler | CDP | 460 | $79,329 | n/a | 8 mi |
| Malaga | CDP | 309 | n/a | n/a | 22 mi |
| Morningside | CDP | 103 | n/a | n/a | 28 mi |
| Loco Hills | CDP | 72 | n/a | n/a | 31 mi |
| Hope | village | 49 | $111,250 | n/a | 35 mi |
| Whites City | CDP | 0 | n/a | n/a | 20 mi |
Eddy County next to its neighbors
Nearest neighbors first, measured between county centers (57 to 85 miles). Winkler County leads the group on income ($86,900), Loving County trails ($51,250), and Eddy County out-earns 5 of the six. Some neighbors are in Texas. Lender licensing is state by state, so a loan for a Eddy County resident follows New Mexico rules.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Eddy County | - | $78,426 | $1,245/mo | 73% |
| Lea County, NM | 57 mi | $68,015 | $1,101/mo | 71% |
| Loving County, TX | 61 mi | $51,250 | n/a | 11% |
| Chaves County, NM | 63 mi | $52,938 | $867/mo | 71% |
| Culberson County, TX | 71 mi | $58,777 | $1,043/mo | 70% |
| Otero County, NM | 85 mi | $55,876 | $962/mo | 67% |
| Winkler County, TX | 85 mi | $86,900 | $1,037/mo | 86% |
Who lives in Eddy County, in numbers
Degree holders: 19% of adults over 25. The uninsured rate is 9.8%, against 9.6% for New Mexico.
| Measure | Eddy County | New Mexico statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 36.2 | 39.4 | 41.5 |
| Bachelor's or higher | 19.3% | 31.0% | 22.2% |
| No high school diploma | 16.6% | 12.0% | n/a |
| No health insurance | 9.8% | 9.6% | 7.8% |
| No vehicle | 4.7% | 5.6% | 5.4% |
| Work from home | 6.5% | 12.2% | 8.7% |
| Poverty rate | 13.8% | 17.8% | 13.2% |
| Unemployment (ACS) | 5.5% | 6.0% | 4.4% |
| Commute length | Eddy County |
|---|---|
| Under 15 min | 49.5% |
| 15 to 29 min | 25.8% |
| 30 to 44 min | 10.7% |
| 45 to 59 min | 5.5% |
| 60+ min | 8.5% |
Local borrowing considerations for Eddy County
Where the Eddy County numbers stand out, and why it matters for a loan:
- Mobile home upkeep. 15% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
- Paperwork. ID, proof of income and a bank account are the basics (requirements).
Room for a loan payment in Eddy County
The debt-to-income ratio is the main affordability test lenders use. Applied to Eddy County's medians:
- $6,536 a month: gross income for a household at the Eddy County median
- Rent at the median, $1,245, takes 19% of that
- $1,108: what a 36% ratio leaves once rent is paid
- $1,565: what a 43% ratio leaves once rent is paid
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
Steps before you apply in Eddy County
A short checklist for Eddy County borrowers:
- Get a written quote for whatever you are paying for in Eddy County.
- Shop at least three lenders, including one Eddy County-area credit union.
- Look the lender up with the state regulator first.
- Keep a small cushion so one surprise bill does not mean another loan.
Lender oversight for Eddy County
Licensing happens at the state level, so a lender working with Eddy County borrowers answers to the New Mexico Financial Institutions Division. Problems with a lender can also go to the CFPB. See the New Mexico state guide for the statewide picture.
More guides for Eddy County
The New Mexico guide covers the whole state.
Frequently asked questions
How much do households in Eddy County earn?
The median is $78,426; 39% earn $100,000 or more and 26% under $35,000. A lender uses your own documented income, not this figure.
How does Eddy County rent compare with New Mexico?
$1,245 locally versus $1,067 for the state, 17% above.
Should Eddy County homeowners use home equity instead?
Maybe, but weigh the risk: 73% of Eddy County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Eddy County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Carlsbad, Artesia, Loving, Atoka, La Huerta and 7 more.
Can Eddy County residents use the questionnaire?
Yes. It asks the same questions in every New Mexico county, lists every requirement up front and does not affect your credit score.