Las Cruces housing market
Typical home value
$285K
▼ 0.6% 1 yr
Typical rent
$1,472/mo
▲ 3.2% 1 yr
12-month forecast
+1.1%
#383 of 546 metros
Gross rent yield
6.2%
#234 of 546 · U.S. 6.3%
Days to pending
83 days
▲ +11 days 1 yr
Listings with a price cut
25%
▲ +1.4 pts 1 yr
Key takeaways
- 1The typical home is worth $285,348, down 0.6% in a year and up 27% over five years.
- 2Zillow forecasts home values rising 1.1% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,472/mo (+3.2% YoY), a 6.2% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,568/mo in principal and interest, $96 more than renting.
- 5Homes go under contract in 83 days (+11 days vs last year); 25% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Las Cruces compares
| Measure | Las Cruces | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | −0.6% | +1.2% | #485 |
| Home value, 5-yr change | +26.8% | +19.7% | |
| 12-month forecast | +1.1% | +1.1% | #383 |
| Rent, 1-yr change | +3.2% | +2.7% | #287 |
| Gross rent yield | 6.2% | 6.3% | #234 |
| Price-to-rent ratio | 16.2 | 15.8 | |
| Mortgage P&I on typical home | $1,568 | $2,012 | |
| Income needed to buy | $77,936 | $100,902 | |
| Days to pending | 83 | 56 |
Cities in the Las Cruces metro
1 cities with home value and rent data.
| Las Cruces | $287K | ▼ 0.9% | $1,439 | ▲ 1.9% | 6.0% |
Run the numbers
Rental property calculator
Cash flow on a typical Las Cruces rental ($285K, $1,472/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Las Cruces home.
Rent vs buy
Is it cheaper to rent or buy in Las Cruces?
Other New Mexico metros
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$349K home$1,490 rent5.1% yield
▲ 1.5% 1 yr
Santa Fe, NM
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▲ 0.8% 1 yr
Farmington, NM
$274K home$1,399 rent6.1% yield
▲ 6.8% 1 yr
Hobbs, NM
$197K home$1,469 rent9.0% yield
▲ 3.0% 1 yr
Alamogordo, NM
$230K home$1,524 rent8.0% yield
▼ 1.8% 1 yr
Roswell, NM
$171K home$1,263 rent8.8% yield
▲ 0.4% 1 yr
Carlsbad, NM
$248K home$1,582 rent7.7% yield
▲ 3.1% 1 yr
Clovis, NM
$160K home$1,305 rent9.8% yield
▲ 2.4% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.