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Affordable
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These days, finding an affordable place to live in the 87031 area can be challenging. Home prices in 87031 are now at a median cost of $220,920, lower than the New Mexico average of $265,486.
The average cost of rent is $1,167/mo in 87031, primarily driven by the current value of real estate in the 87031 area. In 87031, 16.79% of households rent, and 45.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 87031 is $5,592 per month. Households that rent pay about 20.87% of their income on rent here. 87031’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 87042, NM: higher priced homes
- 87060, NM: equally priced homes
- 87068, NM: higher priced homes
- 87002, NM: less expensive homes
- 87061, NM: less expensive homes
- 87016, NM: less expensive homes
- 87032, NM: less expensive homes
- 88321, NM: less expensive homes
- 88353, NM: less expensive homes
- 87315, NM: less expensive homes
Zip Codes with Similar Populations
- 90043, CA: higher priced homes
- 43235, OH: higher priced homes
- 44212, OH: higher priced homes
- 44691, OH: equally priced homes
- 45014, OH: equally priced homes
- 46060, IN: higher priced homes
- 00736, PR: less expensive homes
- 90023, CA: higher priced homes
- 90027, CA: higher priced homes
- 43232, OH: less expensive homes
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