Velarde, NM
Population 248 · New Mexico
About Velarde, NM
Velarde is a small community located in New Mexico with a population of 248 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,707 per year, which is 15% below the national median of $75,149. The median age of 47.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Velarde features a median home value of $0, which is 100% below the national median of $244,900. This makes Velarde one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 242 total housing units, 40% are owner-occupied (67 units) and 60% are renter-occupied (99 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 Velarde 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 38.7%, above the national average of 12.4%. Workers in Velarde have an average one-way commute time of 34.4 minutes.
Education & Demographics
33.3% of Velarde residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 5.6% White, 21.4% Hispanic or Latino, 0.0% Black or African American, and 94.4% Asian residents, with 5.6% of the population being foreign-born.
Cost of Living in Velarde, NM
Compared to national averages, Velarde has a median household income of $63,707 (15% below the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Mexico, Velarde's income is 6% below the state average of $67,435, and home values are 100% below the state median of $233,762.
Why Live in Velarde, NM?
Velarde offers affordable housing with a median home value of $0, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%.
Potential considerations include median household income ($63,707) that falls below the national average. However, Velarde’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Velarde has a population of 248 with a median age of 47.8 years. Compare Velarde with other cities to see how it stacks up, or explore all cities in New Mexico.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Velarde
What is the population of Velarde, NM?
The population of Velarde, NM is 248 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 Velarde?
The median household income in Velarde, NM is $63,707 per year, which is 15% below the national median of $75,149.
What is the median home value in Velarde?
The median home value in Velarde, NM is $0, which is 100% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Velarde?
The median monthly rent in Velarde, NM is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Velarde?
The unemployment rate in Velarde, 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 Velarde, NM a good place to live?
Velarde offers a moderate cost of living, affordable housing, and a strong job market. With a population of 248 and a median age of 47.8, the city appeals to established professionals and retirees.
How educated is Velarde, NM?
33.3% of residents in Velarde 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 Velarde?
Key cost-of-living indicators for Velarde, NM: median home value is $0 (100% below national), median rent is $0/month, and median household income is $63,707. The home-value-to-income ratio is 0.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Velarde?
The poverty rate in Velarde, NM is 38.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Velarde, NM?
Velarde's population is 5.6% White, 21.4% Hispanic or Latino, 0.0% Black or African American, 94.4% Asian, and 0.0% two or more races. 5.6% of residents are foreign-born.