New Mexico real estate and demographic information

New Mexico History and Demographics Information

Though it entered the Union in 1912, in many ways New Mexico today retains more of its pre-U.S. cultural heritage than almost any other state. NM's population is more than 43% Hispanic, the highest percentage in the nation, with another 9% identified as Native American. A staggering 36 percent of New Mexicans speak a language other than English at home. As a result, this arid, sparsely populated state, dotted with ancient pueblos, looks and sounds almost like another country. No wonder many Americans apparently don't believe New Mexico is part of the United States.

New Mexico Topography and Tourism

The extraordinary landscapes of New Mexico, made famous by the painter Georgia O'Keefe, range from forested mountains to high desert, and have attracted artists and scientists alike. The capital of Santa Fe, established nearly 400 years ago by Spanish explorers, and the nearby town of Taos are home to hundreds of artists and museums, and draw millions of tourists annually. Ski resorts, a growing industry in mountainous northern New Mexico, benefit from plentiful sunshine, dry, powdery snow, and lower lift ticket prices to attract winter sports enthusiasts away from neighboring Colorado. Also a favorite of visitors is the state's unique Mexican cuisine, incorporating blue corn, black beans, and piñon nuts. Fittingly, the state's official question is "red or green?", referring to the color and flavor of chile sauce one prefers atop their enchiladas.

New Mexico Economy and Industry

Those famous red and green chili peppers are one of only a few "dryland" crops grown in New Mexico; agriculturally the state is more suited to cattle ranching. Like many of its arid western neighbors, NM is rich in mineral deposits, and extracts significant amounts of copper, uranium, perlite, salt, and the beautiful turquoise used by native Indian craftsmen in their world-famous jewelry.

New Mexico's desert environment and low population density also make the state suitable for nuclear weapons research facilities, including the Los Alamos Research Center where federal government scientists developed the atomic bomb, and the White Sands Proving Ground where it was tested during and after World War II. Subsequently, the Sandia National Laboratory, a defense technology research installation, and the Waste Isolation Pilot Plant, a nuclear waste disposal site, also opened in New Mexico.

Largely due to the presence of defense subcontractors, military bases employing more than 11,000 active duty personnel, and the many national parks, monuments, forests and other government-managed land in New Mexico, the state's economy is heavily dependent on federal spending. In fact, NM receives $2 in spending for every $1 in taxes it sends to Washington, representing the highest return on tax spending of any state.

New Mexico Real Estate Information

Nevertheless, New Mexico remains a poor state. In per capita personal income it ranks 46th in the nation, and real estate prices are quite low with a few exceptions. Thanks to its popularity as a tourist destination and fashionable artists' colony, Santa Fe has the highest median home price ($282,700) in the state; Los Alamos with its concentration of scientists and other highly paid professionals is also more expensive. But real estate in the state's largest city, Albuquerque, is much more affordable.