, N.M. —

Owning a home in New Mexico may feel out of reach for many, and new data shows just how steep the climb can be.

According to a ConsumerAffairs report, the typical New Mexico household would need 17 years to save for a 10% down payment on a median-priced home.

That is one of the longest timelines in the nation, ranking 11th overall.

Here is how ConsumerAffairs arrived at that number:

Median household income in New Mexico is about $67,816

After taxes and essential living costs, the average resident has roughly $24,000 left in disposable income each year.

If just 10% of that amount is set aside annually, about $2,400, it would take 17 years to reach the down payment of $41,560 for a $415,600 home.

Experts call this approach “fractional saving" — setting aside a small, realist

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