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New Mexico market guide
DSCR loans in Clovis, NM
Rental financing for Clovis investors, qualified on the property's rent.
Investors buying in Clovis, NM are measured on the rent the property earns. Locally, median gross rent is $988 and median real estate taxes are $1,075 a year, which together set how much loan a rent can carry.
Market snapshot for Clovis
The Census Bureau's 2020 to 2024 American Community Survey puts median gross rent in Clovis at $988, close to the New Mexico median of $1,067. Median home value sits at $169,400, which is well below the New Mexico median of $248,100. Dividing a year of median rent by the median home value gives a gross rent-to-value ratio of 7.0%, neither especially thin nor especially rich. It mixes apartments and houses, so treat it as a compass and not as the number for any one property.
| Indicator | New Mexico | Clovis | Difference |
|---|---|---|---|
| Persons per household | 2.48 | 2.51 | |
| Share in 2-4 unit buildings | 5.8% | 10.6% | +84% |
| Share of homes detached | 64.5% | 75.8% | +18% |
| Workers on their own account | 10.2% | 7.3% | -28% |
| Renters paying 30%+ of income | 50.2% | 50.1% | -0% |
| Units sitting vacant | 12.5% | 12.7% | +1% |
| Typical construction year | 1985 | 1975 | |
| Annual rent divided by value | 5.2% | 7.0% | +36% |
| Households that rent | 30.0% | 37.9% | +26% |
| Tax as a share of home value | 0.70% | 0.63% | -9% |
| Annual property tax bill, median | $1,731 | $1,075 | -38% |
| Household income, median | $64,059 | $54,820 | -14% |
| Typical owner-occupied value | $248,100 | $169,400 | -32% |
| Typical monthly rent | $1,067 | $988 | -7% |
| Residents (Census estimate) | 2,120,246 | 37,942 |
37.9% of Clovis households rent, well above the New Mexico median of 30%. That is a healthy base of tenants without the churn of a pure student or military town. Median household income of $54,820 (about 14% below the New Mexico median of $64,059) sets the ceiling for rent growth, and 50% of renters already spend 30 percent or more of income on rent.
Housing stock and vacancy in Clovis
About 76% of Clovis's housing is detached single-family, which means a typical rental purchase is a house with its own roof, yard and repair schedule. The median structure went up in 1975, so request ages for the roof, HVAC and water heater on any rental you consider.
About 13% of Clovis's housing units are vacant, and the rental vacancy rate (units for rent against rented plus for-rent units) works out to 7.3%.
Reading Clovis as an investor
At 7.0%, Clovis is neither a bargain nor a stretch for DSCR underwriting, so the file turns on the exact rent, tax and insurance figures for the property. Housing here is neither new nor ancient, so condition varies widely from block to block and the inspection tells you more than the median. A 38% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Taxes, insurance and hazards in Clovis
Tax drag is easy to underestimate. Clovis owners report a median $1,075 in annual real estate taxes, well below the New Mexico median of $1,731, an effective 0.63% of median home value. Set beside the median rent, the tax alone consumes about 9% of annual rent.
Insurance follows risk. FEMA's National Risk Index lists Curry County as relatively low overall, with drought (relatively high), winter weather (relatively high) and wildfire (relatively moderate) as the main drivers.
| Hazard in Curry County, FEMA index | Level |
|---|---|
| Hail exposure | Relatively Moderate |
| Wildfire exposure | Relatively Moderate |
| Winter weather exposure | Relatively High |
| Drought exposure | Relatively High |
| Social vulnerability score | Relatively Moderate |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Price the insurance before you price the offer: a landlord quote for the Clovis property, plus flood cover where the map requires it, goes into the payment your rent is divided against.
Running the numbers in Clovis
Take the median rent ($988), subtract median taxes spread over twelve months ($90), and you have $898 of room at a 1.00 ratio. A lender asking for 1.25 cuts that to $701. Real quotes for the address decide the rest.
Registration, deposits and nightly stays in Clovis
Rental registration, inspection and nightly-stay rules differ by city, and we have not verified Clovis's from a municipal source. A short call to the city and Curry County before you make an offer is cheap insurance. If you are weighing nightly income in Clovis, the state tax backdrop is this. New Mexico charges gross receipts tax on rentals of under 30 days, so owners register with the Taxation and Revenue Department, and a separate lodgers' tax is imposed locally by the city or county and administered outside the state department.
A Clovis landlord must handle the deposit within 30 days after move-out under New Mexico law. Rent regulation: No statewide rent cap found in the Act.
Clovis against New Mexico peers
These are not neighboring towns, only other New Mexico markets with Census data on this site: Hobbs is lowest at $191,300, Taos highest at $445,900, and Clovis sits at $169,400.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Hobbs | 34% | $954 | $191,300 | 40,252 | $1,112 |
| Las Cruces | 44% | $1,571 | $231,700 | 114,197 | $974 |
| Taos | 41% | $1,600 | $445,900 | 6,458 | $883 |
| Clovis | 38% | $1,075 | $169,400 | 37,942 | $988 |
What fills Clovis rentals
Roughly 7.3% of employed people in Clovis are self-employed, a base of investors and landlords for whom a rent-based loan is a practical option. Looking at who fills the rentals, government workers are about 22% of employment, 24% of adults hold a bachelor's degree or higher and 4% of commuters travel 45 minutes or more.
On the logistics side, air service through Clovis Municipal Airport and Denver International Airport are noted for Clovis.
Before you make an offer in Clovis
Before you offer on a Clovis property, test the ratio in the calculator, then apply now or request a DSCR quote.
More New Mexico markets
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- Every market we cover
Sources and data notes
- Encyclopedia entry for Clovis
- New Mexico landlord deposit rules, NMSA 47-8-18(A)-(E)
- State rule cited for Clovis hosts: New Mexico TRD lodging and vacation rentals guidance
- American Community Survey tables, New Mexico
- FEMA county hazard table
The Clovis statistics are five-year ACS estimates (2020 to 2024), which have sampling error. Landlord rules for Clovis rest on New Mexico statutes and the CC BY 4.0 RedFlagLease dataset. Verified October 2026. Ordinances and statutes change, so confirm before acting.
Before you make an offer
On a Clovis purchase, line up the lease, the tax estimate, the insurance quote and any association dues before the appraisal is ordered, and ask the appraiser's office what rent comparables they plan to use.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
What rent do DSCR lenders use for a Clovis rental?
Underwriters take the lease if one exists and compare it with the appraisal's rent estimate; the lower figure often governs. Clovis median rent is $988.
What payment can a Clovis rent support?
Yes, the payment includes principal, interest, taxes, insurance and association dues. At the Clovis median rent of $988, a 1.25 ratio allows about $790 in total payment, of which roughly $90 a month goes to median taxes.
How much real estate tax do Clovis homeowners pay a year?
Clovis owners report a median $1,075 in annual real estate taxes, an effective 0.63% (New Mexico: 0.70%). Your own bill depends on the assessed value after purchase.
Can I use Airbnb income to qualify in Clovis?
Yes on programs built for it, once the use is lawful in Clovis. Gather twelve months of statements or a third-party projection, and have New Mexico tax registration squared away.
How much deposit can a Clovis landlord collect?
Return: 30 days. Statute: NMSA 47-8-18(A)-(E). Confirm current text before you rely on it.
Is flood or storm risk a concern for a Clovis rental?
FEMA's National Risk Index rates the county's overall natural hazard risk as relatively low. That is a county-level view, so check the FEMA flood map and an insurance quote for the exact Clovis address.
Should a Clovis rental be bought in an LLC?
Not required. An LLC borrower is routine for investor programs, with entity paperwork and a guaranty. Form the company before you go under contract in Clovis.