New Mexico home values
New Mexico at a glance
- Zillow’s Home Value Index puts the typical home at $386,900 (Aug 2026), +1.1% over the past 12 months and +28% over five years.
- Across the 3 cities covered here, the Census median home value is about $302,700 — 11% below the U.S. median.
- Median household income averages $76,400 and median rent $1,299/month.
- City values range from $278K in Las Cruces to $307K in Albuquerque.
New Mexico home value trend
Over the 12 months to Aug 2026, typical home values in New Mexico rose 1.1%, to about $386,900. Values are at or near their highest level on record in this series. Over five years the typical home gained $85,300 in value (+28%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $386,900 | +1.1% |
| Aug 2025 | $382,600 | +1.4% |
| Aug 2024 | $377,300 | +4.4% |
| Aug 2023 | $361,300 | +2.7% |
| Aug 2022 | $351,700 | +16.6% |
| Aug 2021 | $301,600 | +20.3% |
| Aug 2020 | $250,800 | +8.0% |
| Aug 2019 | $232,100 | +5.4% |
| Aug 2018 | $220,200 | +4.9% |
| Aug 2017 | $209,900 | +4.2% |
| Aug 2016 | $201,500 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
New Mexico cities compared
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Albuquerque | $307K | +1.4% | $76K | $1,342 | 4.1× |
| Las Cruces | $278K | −0.3% | $71K | $936 | 3.9× |
| Rio Rancho | $302K | +0.7% | $86K | $1,353 | 3.5× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
New Mexico vs the U.S.
| New Mexico | U.S. | |
|---|---|---|
| Typical value (Zillow, Aug 2026) | $386,900 | — |
| 1-year change | +1.1% | — |
| 5-year change | +28% | — |
| Median home value (Census) | $302,700 | $340,200 |
| Median household income | $76,400 | $78,500 |
| Median gross rent | $1,299/mo | $1,406/mo |
| Price-to-income ratio | 4.0× | 4.3× |
| Gross rental yield | 5.1% | 5.0% |
| Rent as share of income | 20% | 21% |
| Mortgage payment* | $1,531/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in New Mexico
At today’s typical value of $386,900 (Zillow, Aug 2026), a buyer putting 20% down ($77,380) and financing the rest at 6.5% over 30 years would pay about $1,956 a month in principal and interest — 31% of the median household income here. That is above the common 28% guideline but under 36%, so budgets are stretched but workable for a median earner. The median rent is $1,299/month, so owning costs roughly 51% more per month than renting, before taxes, insurance and upkeep — the trade-off is building equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
New Mexico real estate FAQ
Are home prices going up in New Mexico?
What is the typical home value in New Mexico?
Is New Mexico affordable?
How much is rent in New Mexico?
Is New Mexico good for rental property investment?
What is the most affordable city in New Mexico?
What is the most expensive city in New Mexico?
Where are home prices rising fastest in New Mexico?
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.