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Elephant Butte, NM Home Values and Rents
The typical home value in Elephant Butte is $239,973, 80th highest of 150 cities and towns in New Mexico. Median rent is $1,089 a month.
- Typical home value
- $239,973
- 80th of 150 in NM
- Median rent
- $1,089/mo
- ACS 2020-2024
- Price change, 1 year
- +1.5%
- Sep 2026
- Homeownership
- 77.6%
- NM: 70.0%
Typical home value in Elephant Butte
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Elephant Butte |
|---|---|
| Sep 2026 | $239,973 |
| Dec 2025 | $240,482 |
| Dec 2024 | $227,672 |
| Dec 2023 | $212,972 |
| Dec 2022 | $210,707 |
| Dec 2021 | $192,859 |
| Dec 2020 | $167,708 |
| Dec 2019 | $147,744 |
| Dec 2018 | $142,176 |
| Dec 2017 | $140,228 |
| Dec 2016 | $144,628 |
| Dec 2015 | $144,413 |
| Dec 2014 | $146,576 |
| Dec 2013 | $154,415 |
| Dec 2012 | $163,504 |
Over five years, Elephant Butte prices changed +26.9%.
Source: Zillow Research · Last updated 09/01/2026
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Home values by ZIP code
Median home value and rent (ACS 2020-2024); price changes from the FHFA annual ZIP index
Swipe the table sideways to see more columns.
| # | ZIP code | Median value | Median rent | 1-year | 5-year |
|---|---|---|---|---|---|
| 1 | 87935 | $197,700 | $1,111 | - | +32.7% |
Fair Market Rents, FY2027
HUD rent standard for Sierra County, NM
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $706 | +2.0% |
| 1 bedroom | $780 | +2.0% |
| 2 bedrooms | $1,014 | +1.0% |
| 3 bedrooms | $1,404 | +0.6% |
| 4 bedrooms | $1,590 | -1.8% |
Frequently asked questions
- What is the typical home value in Elephant Butte, NM?
- The typical home value in Elephant Butte is $239,973 (Zillow Home Value Index, Sep 2026). The New Mexico median is $248,100.
- How much is rent in Elephant Butte?
- The median rent in Elephant Butte is $1,089 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,014.
- Are home prices going up in Elephant Butte?
- The typical home value in Elephant Butte changed +1.5% over one year and +26.9% over five years, as of Sep 2026.
- How does Elephant Butte compare with the rest of New Mexico?
- Elephant Butte has the 80th highest median home value of 150 cities and towns with 1,000+ residents in New Mexico.
- Which ZIP code in Elephant Butte has the highest home values?
- ZIP code 87935 has the highest median home value at $197,700.