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Affordable
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These days, finding an affordable place to live in the 87501 area can be challenging. Home prices in 87501 are now at a median cost of $713,494, higher than the New Mexico average of $265,486.
The average cost of rent is $1,812/mo in 87501, primarily driven by the current value of real estate in the 87501 area. In 87501, 33.04% of households rent, and 50.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 87501 is $7,744 per month. Households that rent pay about 23.40% of their income on rent here. 87501’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southwestern 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
- 87505, NM: less expensive homes
- 87507, NM: less expensive homes
- 87508, NM: less expensive homes
- 87535, NM: less expensive homes
- 87573, NM: less expensive homes
- 87552, NM: less expensive homes
- 87083, NM: less expensive homes
- 87041, NM: less expensive homes
- 87072, NM: less expensive homes
- 87052, NM: less expensive homes
Zip Codes with Similar Populations
- 76164, TX: less expensive homes
- 34145, FL: higher priced homes
- 35206, AL: less expensive homes
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- 53818, WI: less expensive homes
- 68124, NE: less expensive homes
- 73025, OK: less expensive homes
- 73801, OK: less expensive homes
- 74127, OK: less expensive homes
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