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New Mexico.

32nd most expensive state. Typical home $315,812 (+1.7% in a year), estimated payment $1,741 a month. As of Sep 2026.

What it costs per month · New Mexico $1,658/mo

to buy the typical home at today's mortgage rate — +$916 (+124%) since Jan 2020.

What the home itself did
1 year
Up $5,177 +2%
$310,635$315,812 since Sep 2025
5 years
Up $63,364 +25%
$252,448$315,812 since Sep 2021
10 years
Up $140,300 +80%
$175,512$315,812 since Sep 2016

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 New Mexico $1,658 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • New Mexico$1,658
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 15 years.

Typical home values in New Mexico rose 1.7% over the past year — faster than the nation's +1.2%.

Buying the typical New Mexico home now takes 33% of the median household income ($64,059/yr, ACS 2020–2024) — the standard affordability line is 30%.

Share of median income needed to buy

Monthly payment for the typical home against the local median household income. Income is an annual survey, stepped — the saw-teeth are survey years, not markets.

15% 20% 25% 30% 2011 2014 2017 2020 2023 2026 New Mexico 31.05% United States 28.57%
15% 20% 25% 30% 2014 2020 2026
  • New Mexico31.05%
  • United States28.57%

New Mexico home values

Zillow Home Value Index against the national figure. Mid-tier homes, smoothed and seasonally adjusted.

$150,000 $200,000 $250,000 $300,000 $350,000 2002 2006 2010 2014 2018 2022 2026 New Mexico $315,812 United States $366,157
$150,000 $200,000 $250,000 $300,000 $350,000 2002 2010 2018 2026
  • New Mexico$315,812
  • United States$366,157

Metros in New Mexico

Metros Counties Cities

Largest first, by population. Zillow publishes rent for fewer metros than home values, so a dash means no series — not a market at zero.

# Metro Rent 1-yr Δ Home value 1-yr Δ
1 Los Alamos $2,554 — $579,411 -0.7%
2 Santa Fe $1,953 +0.6% $548,757 +0.8%
3 Taos $1,983 — $424,691 -0.8%
4 Albuquerque $1,490 +1.3% $348,674 +1.5%
5 Espa±ola — — $331,209 +2.3%
6 Las Cruces $1,472 +3.2% $285,348 -0.6%
7 Farmington $1,399 +4.1% $273,561 +6.8%
8 Carlsbad $1,582 — $247,976 +3.1%
9 Las Vegas — — $247,129 +4.7%
10 Alamogordo $1,524 +4.3% $229,954 -1.8%
11 Gallup — — $216,406 -2.1%
12 Hobbs $1,469 +9.1% $196,515 +3.0%
13 Silver City $1,329 — $178,898 -4.8%
14 Roswell $1,263 +7.5% $171,272 +0.4%
15 Deming — — $163,750 +4.4%
16 Clovis $1,305 +5.6% $159,817 +2.4%
17 Grants — — $159,084 +8.6%
18 Portales $1,008 +6.4% $144,452 +1.5%
19 Ruidoso $1,825 — — —

Go deeper: every zip in New Mexico.