Caballo Lake State Park, State park in Sierra County, New Mexico

Caballo Lake State Park is a recreation area along a reservoir in Sierra County, New Mexico, set against open desert terrain and distant mountains. The grounds offer several boat launches, docking facilities, and basic services such as showers and dump stations for overnight visitors.

Caballo Lake was formed in the 1930s when the Caballo Dam was built across the Rio Grande, 16 miles south of Truth or Consequences. The dam stands 96 feet tall and runs 4,558 feet across. When full, the reservoir covers over 11,500 acres and stretches 18 miles, making it New Mexico's third largest lake.

The four camping areas show how people in New Mexico spend time outdoors, ranging from simple tent spots to RV sites with full hookups. Anglers, families, and boaters all share the shoreline, each using the lake in their own way.

The park sits at around 4,400 feet (1,340 m) elevation, and spring and fall tend to bring the most comfortable weather for being on the water. Arriving early is a good idea, especially on weekends, as the most sought-after spots close to the shoreline fill up quickly.

Tent camping directly on the beach is allowed here, which is not the case at most other reservoirs in the region. Visitors with a boat can also reach a campsite accessible only from the water, making for an overnight stay with no road access at all.