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New Mexico Home Values and Rents
The median home value in New Mexico is $248,100, 37th highest among states. Prices changed -1.3% in the year through Q2 2026.
- Typical home value
- $315,812
- 37th of 51 states
- Median rent
- $1,067/mo
- ACS 2020-2024
- Price change, 1 year
- -1.3%
- 51st fastest of 51
- Homeownership
- 70.0%
- Owner-occupied homes
New Mexico home prices since 2000
FHFA purchase-only House Price Index, seasonally adjusted (1991 = 100)
Show as a table
| Period | New Mexico |
|---|---|
| Q2 2026 | 409 |
| Q4 2025 | 407 |
| Q4 2024 | 404 |
| Q4 2023 | 381 |
| Q4 2022 | 362 |
| Q4 2021 | 330 |
| Q4 2020 | 287 |
| Q4 2019 | 257 |
| Q4 2018 | 243 |
| Q4 2017 | 233 |
| Q4 2016 | 222 |
| Q4 2015 | 214 |
| Q4 2014 | 211 |
| Q4 2013 | 206 |
| Q4 2012 | 201 |
Over five years, New Mexico home prices changed +33.9%, compared with +29.9% for the U.S.
Source: Federal Housing Finance Agency · Last updated 07/01/2026
Home values by county
Zillow typical home value; price changes from FHFA annual county index
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| # | County | Typical value | Median rent | 1-year | 5-year |
|---|---|---|---|---|---|
| 1 | Los Alamos County | $579,389 | $1,375 | -2.9% | +54.3% |
| 2 | Santa Fe County | $548,874 | $1,389 | +0.8% | +48.3% |
| 3 | Taos County | $424,746 | $1,034 | +0.1% | +54.5% |
| 4 | Sandoval County | $373,280 | $1,427 | +2.0% | +56.6% |
| 5 | Bernalillo County | $347,674 | $1,144 | +2.9% | +53.0% |
| 6 | Lincoln County | $335,919 | $956 | -1.5% | +53.3% |
| 7 | Rio Arriba County | $331,139 | $740 | +2.6% | +56.7% |
| 8 | Valencia County | $318,413 | $1,015 | +4.8% | +64.8% |
| 9 | Doña Ana County | $285,351 | $934 | +1.9% | +51.3% |
| 10 | San Juan County | $273,559 | $956 | +6.2% | +50.9% |
| 11 | Eddy County | $247,965 | $1,245 | +5.4% | +26.9% |
| 12 | San Miguel County | $246,341 | $823 | +14.9% | +60.9% |
| 13 | Colfax County | $244,949 | $729 | -1.4% | +45.1% |
| 14 | Otero County | $229,953 | $962 | +7.9% | +58.4% |
| 15 | Torrance County | $217,224 | $872 | -2.5% | +48.3% |
| 16 | McKinley County | $216,464 | $859 | +5.0% | +38.0% |
| 17 | Catron County | $212,317 | $736 | - | - |
| 18 | Socorro County | $197,130 | $691 | -10.1% | +41.6% |
| 19 | Lea County | $196,513 | $1,101 | +6.2% | +31.5% |
| 20 | Sierra County | $180,323 | $729 | +8.3% | +61.4% |
| 21 | Grant County | $178,942 | $825 | +2.4% | +56.9% |
| 22 | Chaves County | $171,293 | $867 | +3.5% | +35.5% |
| 23 | Luna County | $163,798 | $650 | -1.9% | +58.4% |
| 24 | Curry County | $159,828 | $1,024 | +2.7% | +34.4% |
| 25 | Cibola County | $159,086 | $759 | +14.3% | +55.3% |
| 26 | Roosevelt County | $144,463 | $898 | +5.8% | +34.4% |
| 27 | Mora County | $122,600 | $887 | - | - |
| 28 | Guadalupe County | $110,000 | $590 | - | - |
| 29 | Union County | $107,344 | $683 | +0.9% | +21.2% |
| 30 | Hidalgo County | $105,669 | $814 | - | - |
| 31 | De Baca County | $101,406 | $387 | - | - |
| 32 | Quay County | $96,160 | $712 | - | +59.7% |
| 33 | Harding County | $70,000 | $1,038 | - | - |
Most expensive cities in New Mexico
Cities and towns with 10,000+ residents, by typical home value
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| # | City | Population | Typical value | Median rent |
|---|---|---|---|---|
| 1 | Los Alamos | 13,317 | $579,259 | $1,359 |
| 2 | Santa Fe | 89,019 | $576,890 | $1,463 |
| 3 | Rio Rancho | 108,515 | $360,463 | $1,514 |
| 4 | Albuquerque | 562,218 | $344,199 | $1,145 |
| 5 | Española | 10,473 | $342,873 | $829 |
| 6 | Los Lunas | 18,618 | $330,835 | $1,110 |
| 7 | North Valley | 10,455 | $302,700 | $893 |
| 8 | Las Cruces | 114,197 | $287,447 | $974 |
| 9 | Farmington | 46,314 | $282,854 | $1,037 |
| 10 | Carlsbad | 31,746 | $252,936 | $1,236 |
| 11 | Artesia | 12,576 | $244,689 | $1,288 |
| 12 | Las Vegas | 13,000 | $228,892 | $792 |
| 13 | South Valley | 37,120 | $224,300 | $954 |
| 14 | Sunland Park | 17,463 | $222,749 | $920 |
| 15 | Alamogordo | 31,307 | $220,091 | $902 |
| 16 | Chaparral | 18,186 | $216,788 | $853 |
| 17 | Gallup | 21,023 | $216,668 | $927 |
| 18 | Hobbs | 40,252 | $211,306 | $1,112 |
| 19 | Lovington | 11,498 | $184,013 | $1,014 |
| 20 | Roswell | 47,638 | $175,148 | $876 |
| 21 | Deming | 15,221 | $166,222 | $586 |
| 22 | Clovis | 37,942 | $162,649 | $988 |
| 23 | Portales | 11,968 | $134,876 | $903 |
Most affordable cities in New Mexico
Cities and towns with 10,000+ residents, lowest home values first
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| # | City | Population | Typical value | Median rent |
|---|---|---|---|---|
| 1 | Portales | 11,968 | $134,876 | $903 |
| 2 | Clovis | 37,942 | $162,649 | $988 |
| 3 | Deming | 15,221 | $166,222 | $586 |
| 4 | Roswell | 47,638 | $175,148 | $876 |
| 5 | Lovington | 11,498 | $184,013 | $1,014 |
| 6 | Hobbs | 40,252 | $211,306 | $1,112 |
| 7 | Gallup | 21,023 | $216,668 | $927 |
| 8 | Chaparral | 18,186 | $216,788 | $853 |
| 9 | Alamogordo | 31,307 | $220,091 | $902 |
| 10 | Sunland Park | 17,463 | $222,749 | $920 |
| 11 | South Valley | 37,120 | $224,300 | $954 |
| 12 | Las Vegas | 13,000 | $228,892 | $792 |
| 13 | Artesia | 12,576 | $244,689 | $1,288 |
| 14 | Carlsbad | 31,746 | $252,936 | $1,236 |
| 15 | Farmington | 46,314 | $282,854 | $1,037 |
Home sale prices by metro area
Zillow median sale price, Sep 2026. Metro areas can cross state lines.
| Metro area | Median price | 1 yr |
|---|---|---|
| Santa Fe, NM | $683,747 | -4.6% |
| Albuquerque, NM | $365,301 | +1.5% |
| Las Cruces, NM | $313,407 | -0.9% |
Metro areas in New Mexico
FHFA all-transactions index; metro areas may cross state lines
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| Metro area | 1-year | 5-year |
|---|---|---|
| Farmington, NM | +7.8% | +52.0% |
| Santa Fe, NM | +4.0% | +42.0% |
| Albuquerque, NM | +2.2% | +44.6% |
| Las Cruces, NM | -0.4% | +41.8% |
ZIP codes with the biggest 5-year price gains
FHFA annual ZIP code index, 2025
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Frequently asked questions
- What is the median home value in New Mexico?
- The median value of owner-occupied homes in New Mexico is $248,100, according to the American Community Survey 2020-2024 5-year estimates. That ranks 37th highest among the states and D.C.
- Are home prices going up in New Mexico?
- Home prices in New Mexico changed -1.3% over the year through Q2 2026 and +33.9% over five years, according to the FHFA House Price Index.
- What is the most expensive city in New Mexico?
- Among cities and towns with at least 10,000 residents, Los Alamos has the highest typical home value at $579,259, followed by Santa Fe ($576,890) and Rio Rancho ($360,463).
- Where are homes most affordable in New Mexico?
- Portales has the lowest typical home value among cities with 10,000+ residents at $134,876, followed by Clovis ($162,649) and Deming ($166,222).
- How much do homes sell for in New Mexico?
- In Sep 2026, the median sale price was $683,747 in the Santa Fe, NM area, $365,301 in the Albuquerque, NM area and $313,407 in the Las Cruces, NM area, according to Zillow. These are the metro areas in New Mexico with the highest median sale prices.
- What is the average rent in New Mexico?
- The median gross rent in New Mexico is $1,067 a month, including utilities paid by the renter (ACS 2020-2024). About 30% of households rent.