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These days, finding an affordable place to live in the 87505 area can be challenging. Home prices in 87505 are now at a median cost of $603,966, higher than the New Mexico average of $265,486.
The average cost of rent is $1,552/mo in 87505, primarily driven by the current value of real estate in the 87505 area. In 87505, 40.35% of households rent, and 43.16% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 87505 is $6,919 per month. Households that rent pay about 22.44% of their income on rent here. 87505’s most expensive areas are in the eastern regions, while the cheapest areas are in the western 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
- 87501, NM: higher priced homes
- 87507, NM: less expensive homes
- 87508, NM: equally priced homes
- 87535, NM: less expensive homes
- 87552, NM: less expensive homes
- 87573, 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
- 23116, VA: less expensive homes
- 80910, CO: less expensive homes
- 90803, CA: higher priced homes
- 46142, IN: less expensive homes
- 80122, CO: equally priced homes
- 95358, CA: less expensive homes
- 97132, OR: less expensive homes
- 29640, SC: less expensive homes
- 29406, SC: less expensive homes
- 24073, VA: less expensive homes
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