Monument, NM
Population 437 · New Mexico
About Monument, NM
Monument is a small community located in New Mexico with a population of 437 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 26.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Monument features a median home value of $265,900, which is 9% above the national median of $244,900. This positions Monument in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 124 total housing units, 48% are owner-occupied (60 units) and 52% are renter-occupied (64 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Monument shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monument have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
0.0% of Monument residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 81.2% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 40.3% of the population being foreign-born.
Cost of Living in Monument, NM
Compared to national averages, Monument has a median household income of $0 (100% below the national median of $75,149). Home values average $265,900, which is 9% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Mexico, Monument's income is 100% below the state average of $67,435, and home values are 14% above the state median of $233,762.
Why Live in Monument, NM?
Monument offers rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 10.5%, better than the national average. Additionally, the city features short commute times averaging just 0 minutes.
Potential considerations include median household income ($0) that falls below the national average. However, Monument’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Monument has a population of 437 with a median age of 26.4 years. Compare Monument with other cities to see how it stacks up, or explore all cities in New Mexico.
Similar Cities Near Monument
Cities in New Mexico with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake Arthur | 438 | $81,875 | $113,900 | Compare |
| Jacona | 441 | $71,691 | $452,600 | Compare |
| Lemitar | 432 | $92,201 | $0 | Compare |
| Tecolotito | 432 | $0 | $9,999 | Compare |
| Lobo Canyon | 431 | $88,951 | $164,500 | Compare |
| Arrey | 429 | $0 | $0 | Compare |
| Blanco | 427 | $52,125 | $214,500 | Compare |
| Tesuque Pueblo | 427 | $61,875 | $98,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Mexico
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Monument With Other Cities
Frequently Asked Questions about Monument
What is the population of Monument, NM?
The population of Monument, NM is 437 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New Mexico.
What is the median household income in Monument?
The median household income in Monument, NM is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Monument?
The median home value in Monument, NM is $265,900, which is 9% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Monument?
The median monthly rent in Monument, NM is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Monument?
The unemployment rate in Monument, NM is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Monument, NM a good place to live?
Monument offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 437 and a median age of 26.4, the city appeals to young professionals and families.
How educated is Monument, NM?
0.0% of residents in Monument aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Monument?
Key cost-of-living indicators for Monument, NM: median home value is $265,900 (9% above national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is Infinityx, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Monument?
The poverty rate in Monument, NM is 10.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Monument, NM?
Monument's population is 81.2% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 40.3% of residents are foreign-born.