HomeNew MexicoSan Miguel County
San Miguel County, New Mexico: commercial real estate data.
San Miguel County, New Mexico has a population of 26,850 across 4,716 square miles, down 2.8 percent since the 2020 census base. County output reached $1.01 bn in 2024, 417 establishments operate here, and the SBA record carries 7 7(a) approvals worth $6.4 m.
112 sourced county values · tier FULL · 11 sections
San Miguel County
How many people live in San Miguel County
- Population26,850
- Households11,931
- Average household size2.25
- Median household income$49,431
- Median age47.2
- Median gross rent$823 per month
- Median owner-occupied home value$188,500
- Home value to household income3.8 times
- Annual rent as a share of median income20.0 percent
- Adults 25 and over with a bachelor degree or higher26.5 percent
- Adults 25 and over with a graduate degree11.1 percent
- Adults 25 and over19,991
- Population under 184,528
- Share under 1816.9 percent
- Population 65 and over6,868
- Share 65 and over25.6 percent
- Working age population, 18 to 6415,454
- Civilian labor force11,597
- Unemployment rate4.8 percent
- Labor force participation, adults 18 and over52.0 percent
- Rank by population among New Mexico counties16th of 33
- Rank by population among US county-equivalents1586th
San Miguel County is the 16th largest of 33 New Mexico counties by population. A median home costs 3.8 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 25.6 percent against 16.9 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
San Miguel County
Is San Miguel County growing
- Population change since the 2020 census base-2.84 percent
- Census 2020 base population27,200
- Births, 2024202
- Deaths, 2024338
- Natural change, 2024-136
- Net domestic migration, 2024-96
- Net international migration, 202423
- Total net migration, 2024-73
- Cumulative net domestic migration, 2021 to 2024-232
- Rank by growth among US county-equivalents2710th
The county has lost 2.84 percent of its population since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
San Miguel County
Where people moving to San Miguel County come from
- Tax returns filed by households arriving447
- People arriving, from those returns715
- Adjusted gross income arriving$18.9 m
- Net adjusted gross income movement$0
- Average income of an arriving household$42,262
- Largest single originSan Miguel County Non-migrants (9,471 households)
- Largest single destination (9,471 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| San Miguel County Non-migrants | 9,471 | 17,032 | $430.1 m |
| Other flows - Different State | 173 | 278 | $8.8 m |
| Other flows - West | 111 | 183 | $5.1 m |
| Other flows - Same State | 91 | 153 | $3.0 m |
| Bernalillo County | 76 | 108 | $2.4 m |
| Santa Fe County | 74 | 115 | $3.1 m |
| Other flows - South | 62 | 95 | $3.6 m |
| Mora County | 33 | 61 | $1.7 m |
The largest single source of arrivals is San Miguel County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
San Miguel County
What the San Miguel County economy runs on
- County GDP, 2024$1.01 bn
- County GDP, 2023$922.7 m
- GDP change, 2023 to 20248.9 percent
- GDP change over five years46.8 percent
- Rank by GDP among New Mexico counties18th
- Rank by GDP among US county-equivalents1836th
- GDP per resident$37,431
Output grew 8.9 percent in the latest year and 46.8 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
San Miguel County
Who employs people in San Miguel County
- Covered employment, annual average7,676
- Establishments reporting788
- Average annual pay$44,192
- Average weekly wage$850
- Sector 44-45, employment860
- Sector 44-45, average annual pay$31,682
- Sector 23, employment312
- Sector 23, average annual pay$55,199
- Sector 52, employment141
- Sector 52, average annual pay$50,488
- Sector 48-49, employment137
- Sector 48-49, average annual pay$41,781
- Sector 81, employment101
- Sector 54, employment95
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 860 | 64 | $31,682 |
| Sector 23 | 312 | 47 | $55,199 |
| Sector 52 | 141 | 26 | $50,488 |
| Sector 48-49 | 137 | 15 | $41,781 |
| Sector 81 | 101 | 39 | $38,283 |
| Sector 54 | 95 | 42 | $57,798 |
| Sector 53 | 68 | 22 | $43,299 |
| Sector 31-33 | 60 | 10 | $42,308 |
The largest sector is the biggest private employer group at 860 jobs, 11.2 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
San Miguel County
What businesses operate in San Miguel County
- Establishments, all industries417
- Employment at those establishments8,252
- Annual payroll$215.4 m
- Establishments per 1,000 residents15.5
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
San Miguel County
What is being built in San Miguel County
- Housing units authorised by permit, 20240
- Declared construction value permitted$0
- Single family units authorised0
- Multifamily units authorised0
No residential units were authorised by permit in 2024. In a small county this is common and is not by itself a sign of distress, but it does mean there is no recent residential pipeline to read demand from.
US Census Bureau, Building Permits Survey, 2024 annual.
San Miguel County
How much SBA lending happens in San Miguel County
- 7(a) approvals recorded7
- 7(a) gross approval dollars$6.4 m
- Average 7(a) approval$912,214
- Median 7(a) approval$297,500
- 10th percentile approval$10,000
- 90th percentile approval$4,400,000
- Largest single approval$4,400,000
- Jobs reported supported, 7(a)39
- Jobs per approval5.6
- Distinct 7(a) lenders active6
- Distinct industries receiving approvals6
- Median 7(a) term180 months
- Share of loans on real estate terms, 240 months or longer42.9 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter3
- Franchise loans1
- Franchise share of approvals14.3 percent
- Leading industry by approval countHotels (except Casino Hotels) and Motels (2)
- Most active lenderWells Fargo Bank National Association (2)
- 504 approvals recorded4
- 504 gross approval dollars$630,000
- Average 504 approval$157,500
- Median 504 approval$192,000
- Distinct CDCs active2
- 504 jobs per approval5.0
- 504 jobs per million dollars approved31.7
- Most active CDCCapital Certified Development Corporation (3)
- 7(a) share of SBA approvals63.6 percent
- Combined SBA approval dollars$7.0 m
The average approval of $912,214 sits well above the median of $297,500, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. 42.9 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
San Miguel County
Do SBA loans in San Miguel County get paid back
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Exempt from disclosure6
- Status: Paid in full1
Too few loans have reached a final outcome to publish a charge off rate. only 1 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
San Miguel County
Which parts of San Miguel County get the lending
- Places in the county with recorded lending2
- Las Vegas, approvals6
- PECOS, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Las Vegas | 6 | $6,367,500 |
| PECOS | 1 | $18,000 |
Las Vegas accounts for 6 approvals against 1 in PECOS. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
San Miguel County
How big is San Miguel County
- Land area4,716 sq mi
- Rank by land area among New Mexico counties9th of 33
- Width, east to west117.4 mi
- Height, north to south57.3 mi
- Geographies sharing a boundary6
- Residents per square mile of land6
- Establishments per square mile0.09
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a San Miguel County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a San Miguel County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population26,850
- Households11,931
- Average household size2.25
- Median household income$49,431
- Median age47.2
Common questions
San Miguel County questions, answered from the record.
How many people live in San Miguel County, New Mexico?
26,850, in 11,931 households, ranking 16th of 33 New Mexico counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is San Miguel County growing?
The population has fallen 2.84 percent since the 2020 census base. In 2024 there were 202 births against 338 deaths, with net migration of -73. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in San Miguel County?
$49,431. The median owner-occupied home is valued at $188,500, which is 3.8 times income, and median gross rent is $823 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in San Miguel County?
417 establishments, employing 8,252 people with an annual payroll of $215.4 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in San Miguel County?
Average annual pay is $44,192, or $850 a week, across 7,676 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in San Miguel County?
7 7(a) approvals totalling $6.4 m since FY2020, across 6 lenders, with a median approval of $297,500, plus 4 504 approvals worth $630,000. These are approvals recorded in the release, not loans disbursed.
What is being built in San Miguel County?
No residential units were authorised by permit in 2024. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for San Miguel County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to San Miguel County come from?
The largest single origin is San Miguel County Non-migrants, with 9,471 households. Arriving households report an average income of $42,262 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for San Miguel County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for San Miguel County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.