Financial Assistance

Contact the Military & Family Readiness Center or Military One Source Certified Personal Financial Counselors to assist with financial priorities and money matters throughout the military lifecycle.

• Assist for Money Management, Budgeting/Spending Plans
• Information on optimizing your financial resources and planning for the future.

A permanent change of station move usually impacts finances. Visit the financial counselor at your current location to anticipate changes and adjust your budget prior to your departure. Counseling is available upon arrival at Cannon Air Force Base in the Military and Family Readiness Center to help you fine-tune your financial plan. M&FRC is located at 331 D.L. Ingram Ave, Building 1433, Cannon AFB, NM. For more information, call 575-784-4228.

My Vector PFR-Permanent Change of Station training (online CBT) is required for PCSing members.

Military One Source is a great resource for Money Matters/Financial Assistance. Call. 800-342-9647, Click. Connect. 24/7.

Monitor your Leave and Earnings Statement at least once a month to ensure you are receiving the correct pay and allowances. Whether overpaid or underpaid, you will fare better by identifying it early; if overpaid, the money will likely be taken back all at once, so always have some money set aside for this or for other emergencies. At relocation time, members often take advance pay, which is a no-interest "loan" on income not yet earned, and it must be paid back. Before taking advance pay, carefully consider your budget (your Military and Family Readiness Center and Military One Source is available for help with this) to determine whether you can afford this new debt.

Housing Costs

Rental housing is available in a wide range of prices, depending on the area, size and condition of the home. Furnished housing is extremely limited, so plan to rent unfurnished. Homes with five bedrooms or more are generally unavailable. Most landlords do not allow pets.

2026 Housing Market:

Portales, NM

• Median Home value $135,228
• Median Rent: $875
• Rentals: apartment studios range $400/month, 1-bedrooms $600/month, 2-bedrooms $800/month, while 3-bedrooms and 4+ bedrooms average $1,538/month.

Clovis, NM 

• Median Home value $164,852  
• Median Rent: $1287
• Rentals: apartment studios range $400/month, 1-bedrooms $775/month, 2-bedrooms $1,050/month, while 3-bedrooms and 4+ bedrooms average $1,800/month.

NOTE: Cannon Family Homes is on base. The wait time for housing on base varies and it is recommended that you contact them directly about the wait time and to be added to the wait list. Call 575-784-7141. Base housing is generally available upon arrival. 

Utilities

Utility deposits may be waived with a good credit letter for one year from another utility company (get it before you leave your current location). The Housing Management Office has forms for waivers for deposit. Be prepared for phone and cable installation expenses. 

EPCOR Water Company, 1005 N. Norris St., Clovis, NM 800-383-0834

Farmers' Electric Cooperative, 3701 N Thornton St., Clovis, NM 575-762-4466

Excel Energy, Residential Customer Service, 800-895-4999

Cellphones

Prior to entering into a contract with a cellphone provider before arrival, ensure the provider has service available in the Cannon Air Force Base area without roaming charges. 

NM Auto Insurance requirements

New Mexico law requires drivers to have auto liability insurance. New Mexico is considered a traditional tort, or “at-fault” state. This means that if you are injured in a crash, the driver found legally responsible for the accident is financially liable for your damages, and you can seek compensation from that driver’s insurance company or through a lawsuit.

New Mexico law mandates that auto insurance policies provide the following:

Liability Insurance- Minimum Required:

• $25,000 per person for bodily injury
• $50,000 per accident for bodily injury
• $10,000 per accident for property damage

Uninsured motorist coverage is mandatory in New Mexico, as insurance providers must offer it to protect drivers involved in accidents with uninsured or underinsured motorists.