Midway is located in central Chaves County 9 miles (14 km) southeast of the center of Roswell, the county seat. U.S. Route 285 forms the western edge of the CDP, leading northwest to Roswell and south 33 miles (53 km) to Artesia. New Mexico State Road 2 runs through the center of the community, joining US 285 at the CDP's northwest corner and running southeast 15 miles (24 km) to Hagerman.
According to the United States Census Bureau, the Midway CDP has a total area of 2.5 square miles (6.4 km2), all land.[4]