Santa Fe housing market
Typical home value
$549K
▲ 0.8% 1 yr
Typical rent
$1,953/mo
▲ 0.7% 1 yr
12-month forecast
+1.5%
#351 of 546 metros
Gross rent yield
4.3%
#486 of 546 · U.S. 6.3%
Days to pending
67 days
▲ +7 days 1 yr
Listings with a price cut
26%
▲ +2.1 pts 1 yr
Key takeaways
- 1The typical home is worth $548,757, up 0.8% in a year and up 16% over five years.
- 2Zillow forecasts home values rising 1.5% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,953/mo (+0.7% YoY), a 4.3% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $3,016/mo in principal and interest, $1,063 more than renting.
- 5Homes go under contract in 67 days (+7 days vs last year); 26% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 28/100, #471 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 Santa Fe compares
| Measure | Santa Fe | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +0.8% | +1.2% | #382 |
| Home value, 5-yr change | +15.6% | +19.7% | |
| 12-month forecast | +1.5% | +1.1% | #351 |
| Rent, 1-yr change | +0.7% | +2.7% | #495 |
| Gross rent yield | 4.3% | 6.3% | #486 |
| Price-to-rent ratio | 23.4 | 15.8 | |
| Mortgage P&I on typical home | $3,016 | $2,012 | |
| Income needed to buy | $139,242 | $100,902 | |
| Days to pending | 67 | 56 |
Cities in the Santa Fe metro
1 cities with home value and rent data.
| Santa Fe | $577K | ▲ 0.6% | $1,956 | ▲ 0.6% | 4.1% |
Run the numbers
Rental property calculator
Cash flow on a typical Santa Fe rental ($549K, $1,953/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Santa Fe home.
Rent vs buy
Is it cheaper to rent or buy in Santa Fe?
Other New Mexico metros
Albuquerque, NM
$349K home$1,490 rent5.1% yield
▲ 1.5% 1 yr
Las Cruces, NM
$285K home$1,472 rent6.2% yield
▼ 0.6% 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.