Home Insurance in Chaves County, New Mexico
Homes in Chaves County carry a median value of $156,400 - 37% lower than the New Mexico median.
The typical home in Chaves County was built around 1972. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 34% of homes were built before 1960, about 17 points above New Mexico's 17%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Chaves County is 73% single-family homes, 6% apartments in buildings with 5+ units and 13% mobile or manufactured homes.
About 43% of owner-occupied homes in Chaves County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Chaves County has an owner-occupancy rate of 71% and a vacancy rate of 12%; unoccupied homes typically need a different coverage form.
In Chaves County, 52% of homes are primarily heated with electricity.
Per FEMA's National Risk Index, Chaves County's top hazards are strong wind (Relatively High), winter weather (Relatively High) and wildfire (Relatively Moderate).
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Chaves County has 232 active NFIP flood policies on file.
In New Mexico, the statewide average premium for a standard HO-3 homeowners policy is $1,490 per year (NAIC, 2023 data).
Key figures
| Median home value | $156,400 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 43% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively High), Winter Weather (Relatively High), Wildfire (Relatively Moderate) |
| Active NFIP flood policies (county) | 232 |
| Home insurance premium | $1,490 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)