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Affordable
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These days, finding an affordable place to live in the 87516 area can be challenging. Home prices in 87516 are now at a median cost of $287,500, higher than the New Mexico average of $265,486.
The average cost of rent is $740/mo in 87516, primarily driven by the current value of real estate in the 87516 area. In 87516, 0.00% of households rent, and 95.93% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 87516 is $3,072 per month. Households that rent pay about 24.09% of their income on rent here. 87516’s most expensive areas are in the central regions, while the cheapest areas are in the central 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
- 87064, NM: less expensive homes
- 87510, NM: higher priced homes
- 87012, NM: less expensive homes
- 87548, NM: higher priced homes
- 87537, NM: equally priced homes
- 87017, NM: less expensive homes
- 87549, NM: equally priced homes
- 87566, NM: less expensive homes
- 87511, NM: less expensive homes
- 87582, NM: equally priced homes
Zip Codes with Similar Populations
- 57547, SD: less expensive homes
- 58260, ND: less expensive homes
- 58229, ND: less expensive homes
- 58069, ND: less expensive homes
- 58029, ND: less expensive homes
- 58016, ND: less expensive homes
- 57755, SD: less expensive homes
- 00951, PR: less expensive homes
- 57651, SD: less expensive homes
- 58787, ND: less expensive homes
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