New Mexico housing market
Typical home value
$316K
▲ 1.7% 1 yr
5-year change
+25%
U.S. +20%
Median city rent
$1,484/mo
11 cities
Unemployment rate
4.7%
Median household income
$68K
2025
Key takeaways
- 1The typical home in New Mexico is worth $315,812, up 1.7% in a year and up 25% over five years. That's the #32 most expensive of 51.
- 2Across 11 cities with rent data, median typical rent is $1,484/mo, roughly a 5.6% gross yield on the typical home.
- 3Median household income was $67,620 in 2025, so the typical home costs 4.7× income.
- 4Unemployment is 4.7% (+0.5 pts in a year).
Home values
Source: Zillow Research (ZHVI, ZORI and market activity data).
Source: FRED, Federal Reserve Bank of St. Louis. Quarterly, all-transactions index.
New Mexico metro areas
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
Santa Fe, NM
$549K home$1,953 rent4.3% yield
▲ 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
Portales, NM
$144K home$1,008 rent8.4% yield
▲ 1.5% 1 yr
New Mexico cities
11 cities, largest first. Click a column to sort.
11 cities
| Albuquerque | $344K | ▲ 1.7% | $1,452 | ▲ 1.3% | 5.1% |
| Las Cruces | $287K | ▼ 0.9% | $1,439 | ▲ 1.9% | 6.0% |
| Santa Fe | $577K | ▲ 0.6% | $1,956 | ▲ 0.6% | 4.1% |
| Rio Rancho | $360K | ▲ 0.7% | $1,867 | ▲ 1.8% | 6.2% |
| Farmington | $283K | ▲ 6.7% | $1,535 | ▲ 4.2% | 6.5% |
| Roswell | $175K | ▲ 0.8% | $1,263 | ▲ 7.7% | 8.7% |
| Hobbs | $211K | ▲ 3.6% | $1,484 | ▲ 9.7% | 8.4% |
| Los Lunas | $331K | ▲ 2.7% | $2,040 | ▲ 2.3% | 7.4% |
| Clovis | $163K | ▲ 2.3% | $1,315 | ▲ 5.1% | 9.7% |
| Alamogordo | $220K | ▼ 2.2% | $1,533 | ▲ 4.4% | 8.4% |
| Portales | $135K | ▲ 0.5% | $1,008 | ▲ 6.3% | 9.0% |
Data refreshed Oct 26, 2026.