Las Cruces, NM housing market
Typical home value
$287K
▼ 0.9% 1 yr
Typical rent
$1,439/mo
▲ 1.9% 1 yr
Gross rent yield
6.0%
U.S. 6.3%
5-year home value change
+26%
U.S. +20%
Key takeaways
- 1The typical home in Las Cruces is worth $287,447, down 0.9% over the past year and up 26% over five years.
- 2Typical rent is $1,439 a month (+1.9% YoY), a gross rent yield of 6.0% (below the Las Cruces, NM metro's 6.2%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,580/mo, $141 more than typical rent.
- 4Zillow forecasts the Las Cruces, NM metro's home values to change +1.1% over the next 12 months.
Market temperature (Las Cruces, NM metro)
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 27/100, #481 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Las Cruces compares
| Measure | Las Cruces | Las Cruces, NM metro | United States |
|---|---|---|---|
| Typical home value | $287,447 | $285,348 | $366,157 |
| Home value, 1-yr change | −0.9% | −0.6% | +1.2% |
| Typical rent | $1,439 | $1,472 | $1,932 |
| Rent, 1-yr change | +1.9% | +3.2% | +2.7% |
| Gross rent yield | 6.0% | 6.2% | 6.3% |
| Price-to-rent ratio | 16.6 | 16.2 | 15.8 |
| Mortgage P&I, typical home | $1,580 | $1,568 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Las Cruces rental, pre-filled.
Rent vs buy in Las Cruces
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $287K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.