The market in numbers
Home values over the last two years
The typical home in New Mexico was worth $279,400 in September 2024 and $282,100 in August 2026, a change of +1.0% over two years. Values are at the highest point of the period.
Housing markets by metro
Typical home value, 12-month change and rents for each metro area in New Mexico, largest first. Linked metros have their own report, ZIP code by ZIP code. Of New Mexico's ZIP codes, 15 lie outside any metro area.
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Albuquerque | 38 | $350,800 | +1.8% | $1,500 | 5.5% |
| Las Cruces | 19 | $267,800 | +1.0% | $1,500 | 5.5% |
| Santa Fe | 12 | $436,500 | +2.8% | $2,400 | 4.0% |
| Roswell | 3 | $146,600 | −2.9% | n/a | n/a |
| Farmington | 10 | $279,500 | +7.8% | n/a | n/a |
| Alamogordo | 8 | $250,700 | +0.1% | n/a | n/a |
| Hobbs | 6 | $179,500 | −0.4% | n/a | n/a |
| Carlsbad | 2 | $253,000 | +2.2% | n/a | n/a |
| Clovis | 1 | $164,900 | +1.0% | n/a | n/a |
| Deming | 1 | $159,000 | +4.7% | n/a | n/a |
| Silver City | 11 | $202,900 | +0.9% | n/a | n/a |
| Las Vegas | 7 | $323,900 | +6.6% | n/a | n/a |
| Ruidoso | 6 | $286,800 | −0.1% | n/a | n/a |
| Taos | 5 | $435,600 | −1.4% | n/a | n/a |
| Espa±ola | 4 | $322,900 | +3.4% | n/a | n/a |
Show all 19 metro areas
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Albuquerque | 38 | $350,800 | +1.8% | $1,500 | 5.5% |
| Las Cruces | 19 | $267,800 | +1.0% | $1,500 | 5.5% |
| Santa Fe | 12 | $436,500 | +2.8% | $2,400 | 4.0% |
| Roswell | 3 | $146,600 | −2.9% | n/a | n/a |
| Farmington | 10 | $279,500 | +7.8% | n/a | n/a |
| Alamogordo | 8 | $250,700 | +0.1% | n/a | n/a |
| Hobbs | 6 | $179,500 | −0.4% | n/a | n/a |
| Carlsbad | 2 | $253,000 | +2.2% | n/a | n/a |
| Clovis | 1 | $164,900 | +1.0% | n/a | n/a |
| Deming | 1 | $159,000 | +4.7% | n/a | n/a |
| Silver City | 11 | $202,900 | +0.9% | n/a | n/a |
| Las Vegas | 7 | $323,900 | +6.6% | n/a | n/a |
| Ruidoso | 6 | $286,800 | −0.1% | n/a | n/a |
| Taos | 5 | $435,600 | −1.4% | n/a | n/a |
| Espa±ola | 4 | $322,900 | +3.4% | n/a | n/a |
| Los Alamos | 2 | $583,800 | −0.7% | n/a | n/a |
| Gallup | 1 | $224,300 | −1.3% | n/a | n/a |
| Grants | 1 | $162,800 | +7.1% | n/a | n/a |
| Portales | 1 | $148,500 | +1.5% | n/a | n/a |
Home values by county
Of New Mexico's 30 counties, Los Alamos County has the highest typical home value, $583,800, and Union County the lowest, $109,900. Among counties with at least five ZIP codes, San Juan County has risen most over the year, up 7.8%, and Taos County has moved least, down 1.4%.
Show all 30 counties
| County | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Los Alamos County | 2 | $583,800 | −0.7% | n/a | n/a |
| Santa Fe County | 12 | $436,500 | +2.8% | $2,400 | 4.0% |
| Taos County | 5 | $435,600 | −1.4% | n/a | n/a |
| Valencia County | 4 | $369,900 | +3.0% | n/a | n/a |
| Mora County | 1 | $368,500 | +5.3% | n/a | n/a |
| Bernalillo County | 19 | $358,400 | +1.2% | $1,500 | 5.4% |
| Sandoval County | 12 | $347,300 | +1.3% | n/a | n/a |
| Colfax County | 2 | $329,000 | −0.8% | n/a | n/a |
| San Miguel County | 5 | $323,900 | +6.6% | n/a | n/a |
| Rio Arriba County | 4 | $322,900 | +3.4% | n/a | n/a |
| Lincoln County | 6 | $286,800 | −0.1% | n/a | n/a |
| San Juan County | 10 | $279,500 | +7.8% | n/a | n/a |
| Dona Ana County | 19 | $267,800 | +1.0% | $1,500 | 5.5% |
| Eddy County | 2 | $253,000 | +2.2% | n/a | n/a |
| Otero County | 8 | $250,700 | +0.1% | n/a | n/a |
| Catron County | 4 | $225,700 | +13.5% | n/a | n/a |
| McKinley County | 1 | $224,300 | −1.3% | n/a | n/a |
| Torrance County | 3 | $209,700 | +7.2% | n/a | n/a |
| Grant County | 11 | $202,900 | +0.9% | n/a | n/a |
| Socorro County | 1 | $199,700 | +2.8% | n/a | n/a |
| Sierra County | 5 | $198,700 | +4.7% | n/a | n/a |
| Lea County | 6 | $179,500 | −0.4% | n/a | n/a |
| Curry County | 1 | $164,900 | +1.0% | n/a | n/a |
| Cibola County | 1 | $162,800 | +7.1% | n/a | n/a |
| Luna County | 1 | $159,000 | +4.7% | n/a | n/a |
| Roosevelt County | 1 | $148,500 | +1.5% | n/a | n/a |
| Chaves County | 3 | $146,600 | −2.9% | n/a | n/a |
| Quay County | 2 | $132,400 | −9.3% | n/a | n/a |
| De Baca County | 1 | $110,900 | +2.8% | n/a | n/a |
| Union County | 1 | $109,900 | −12.5% | n/a | n/a |
Where prices are rising fastest
The ten ZIP codes with the strongest change in home values over the past twelve months. Among the larger half of New Mexico's ZIP codes by population, so that places with only a handful of sales a year do not crowd the list.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 87701 | Las Vegas | $236,900 | +10.1% | +2.9% |
| 87413 | Bloomfield | $267,400 | +9.6% | +4.2% |
| 87013 | Cuba | $240,000 | +9.4% | +2.7% |
| 87402 | Farmington | $338,000 | +7.4% | +7.9% |
| 87020 | Grants | $162,800 | +7.1% | +5.3% |
| 88242 | Hobbs | $296,400 | +6.8% | +0.9% |
| 87410 | Aztec | $284,800 | +6.7% | +4.4% |
| 87401 | Farmington | $278,400 | +6.7% | +6.8% |
| 87417 | Kirtland | $236,300 | +6.2% | +3.1% |
| 87068 | Bosque Farms | $424,200 | +6.1% | +6.3% |
Where prices are falling
Across New Mexico, 45 ZIP codes are below where they were a year ago. These are the ten largest declines among the larger half by population.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 88061 | Silver City | $224,400 | −5.6% | −21.1% |
| 88345 | Ruidoso | $321,700 | −4.1% | −10.6% |
| 88401 | Tucumcari | $87,200 | −3.5% | −12.6% |
| 88352 | Tularosa | $189,500 | −3.4% | −4.5% |
| 88310 | Alamogordo | $221,200 | −3.0% | −4.0% |
| 87043 | Placitas | $640,300 | −2.1% | −2.9% |
| 88081 | Chaparral | $228,500 | −2.0% | −4.5% |
| 88001 | Las Cruces | $205,600 | −2.0% | −3.2% |
| 87301 | Gallup | $224,300 | −1.3% | −1.6% |
| 87108 | Albuquerque | $285,400 | −1.2% | −1.8% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the highest yields among the larger ZIP codes with rent data.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 88203 | Roswell | $142,800 | $1,300 | 10.9% | n/a |
| 88101 | Clovis | $164,900 | $1,300 | 9.2% | +5.1% |
| 88310 | Alamogordo | $221,200 | $1,600 | 8.5% | +4.6% |
| 88130 | Portales | $148,500 | $1,000 | 8.2% | +5.8% |
| 88240 | Hobbs | $200,100 | $1,300 | 8.1% | +8.1% |
| 88220 | Carlsbad | $256,700 | $1,700 | 7.8% | n/a |
| 88210 | Artesia | $249,400 | $1,600 | 7.7% | n/a |
| 87031 | Los Lunas | $330,800 | $2,100 | 7.5% | +4.1% |
| 88061 | Silver City | $224,400 | $1,400 | 7.5% | n/a |
| 88012 | Las Cruces | $293,500 | $1,800 | 7.3% | −1.4% |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The state typical is 4.8×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 88401 | Tucumcari | $87,200 | $49,300 | 1.8× |
| 87020 | Grants | $162,800 | $62,700 | 2.6× |
| 88260 | Lovington | $196,800 | $75,500 | 2.6× |
| 88130 | Portales | $148,500 | $52,400 | 2.8× |
| 87740 | Raton | $150,900 | $52,800 | 2.9× |
| 88101 | Clovis | $164,900 | $56,600 | 2.9× |
| 88210 | Artesia | $249,400 | $79,600 | 3.1× |
| 87417 | Kirtland | $236,300 | $75,200 | 3.1× |
| 88240 | Hobbs | $200,100 | $63,300 | 3.2× |
| 88220 | Carlsbad | $256,700 | $78,200 | 3.3× |
Who is moving in
Household moves between the 2022 and 2023 tax years, measured county by county. Summed across its counties, New Mexico lost 480 households on net, and the households that left took $193m more income than the arrivals brought. Of its 30 counties, 12 gained households. The tables show the largest gains and losses; the last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Sandoval County | +1,604 | +$226m | +$11,561 |
| Valencia County | +828 | +$64m | +$5,686 |
| Santa Fe County | +688 | +$158m | +$10,983 |
| Otero County | +274 | −$20m | −$7,276 |
| Dona Ana County | +214 | +$30m | +$1,827 |
| Torrance County | +186 | +$8m | −$1,748 |
| Sierra County | +88 | +$10m | +$10,238 |
| Grant County | +88 | +$3m | −$1,291 |
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Bernalillo County | −1,602 | −$387m | −$9,569 |
| Sandoval County | −958 | −$49m | −$3,737 |
| Chaves County | −484 | −$43m | −$7,883 |
| Lea County | −282 | −$52m | −$14,355 |
| Luna County | −234 | −$18m | −$9,140 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In New Mexico, 10 of 153 ZIP codes grade A and 22 grade F. Which ones, and why, is in CITIZEN.
Questions
Are home prices going up or down in New Mexico?
Up. Home values across New Mexico are up 2.7% over the past twelve months, to a typical $282K, and 108 of its 153 ZIP codes are higher than a year ago.
What is the typical home value in New Mexico?
$282,100 across New Mexico's 153 ZIP codes, as of August 2026. Among its metro areas, the typical home ranges from $202,900 in Silver City to $436,500 in Santa Fe.
What is the cheapest place to buy a house in New Mexico?
Among New Mexico's metro areas with at least eight ZIP codes, Silver City has the lowest typical home value, $202,900. Among the larger half of its ZIP codes, 88401 in Tucumcari is the cheapest, at $87,200.
Where are home prices rising fastest in New Mexico?
87701 in Las Vegas (+10.1%), 87413 in Bloomfield (+9.6%) and 87013 in Cuba (+9.4%), over the past twelve months, among the larger half of its ZIP codes.
What is the typical rent in New Mexico?
About $1,600 a month, across the 42 ZIP codes with rent data, up 3.1% over the past year.
Are people moving to New Mexico?
On balance, no. Between the 2022 and 2023 tax years, New Mexico lost 480 households on net from moves, summed across its counties.
Other states
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values and rents through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023.
- State, metro and county figures are medians across their ZIP codes, not a separate index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- ZIP code lists use the larger half of the state's ZIP codes by population.
- Updated monthly. Last updated 2026-10-14.
