Zip lookup · NM

88220
Carlsbad, New Mexico.

Carlsbad, Eddy County, NM · Carlsbad-Artesia, NM metro · population 39,828

What it costs per month · 88220 $1,327/mo

to buy the typical home at today's mortgage rate — +$462 (+53%) since Jan 2020.

What the home itself did
1 year
Up $6,445 +3%
$246,341$252,787 since Sep 2025
5 years
Down $14,330 -5%
$267,117$252,787 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 88220 $1,327 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • 88220$1,327
  • United States$1,922

At the last five years' pace, prices here aren't rising.

Typical home values in zip 88220 rose 2.6% over the past year — faster than the nation's +1.2%.

Owning the typical home in zip 88220 runs $110/mo more than renting one. The gap peaked at $134 in Mar 2026.

That is $1,706 a month against $1,596 rent: a $1,327 mortgage payment, plus $108 property tax and $271 insurance & upkeep.

Owning vs renting — zip 88220

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$1,200 $1,400 $1,600 2026 Owning all in $1,706 Renting $1,596 Mortgage only $1,327
$1,200 $1,400 $1,600 2026
  • Owning all in$1,706
  • Renting$1,596
  • Mortgage only$1,327

Property tax · $108/mo 0.52% of value a year — the ACS 2020-2024 median bill over the median home value for Eddy County, NM

Insurance & upkeep · $271/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

Zillow also publishes an index for the city itself: Carlsbad, NM — measured over the city limits, which is a different area from this zip.

Asking rent $1,596 as of Sep 2026
Typical home value $252,787 as of Sep 2026
+2.6%year on year

Asking rent — 88220

Against the Carlsbad-Artesia, NM metro and the national benchmark.

$1,500 $1,600 $1,700 $1,800 $1,900 2026 88220 $1,596 Carlsbad $1,582 United States $1,932
$1,500 $1,600 $1,700 $1,800 $1,900 2026
  • 88220$1,596
  • Carlsbad$1,582
  • United States$1,932

Typical home value — 88220

Mid-tier homes, smoothed and seasonally adjusted.

$200,000 $250,000 $300,000 $350,000 2018 2020 2022 2024 2026 88220 $252,787 Carlsbad $247,976 United States $366,157
$200,000 $250,000 $300,000 $350,000 2018 2022 2026
  • 88220$252,787
  • Carlsbad$247,976
  • United States$366,157

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.