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Expensive
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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 $245,300, higher than the New Mexico average of $199,923.
The average cost of rent is $667/mo in 87516, primarily driven by the current value of real estate in the 87516 area. While nearly 98.21% of residents own their homes outright in 87516, 16.22% rent.
Housing affordability isn’t just about home prices, though. The average household income in 87516 is $2,791 per month. Households that rent pay about 23.90% of their income on rent here. 87516's most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the zip.
Nearby Zip Codes
- 87064, NM: equally priced homes
- 87510, NM: equally priced homes
- 87012, NM: equally priced homes
- 87548, NM: less expensive homes
- 87537, NM: less expensive homes
- 87017, NM: equally priced homes
- 87549, NM: less expensive homes
- 87566, NM: higher priced homes
- 87511, NM: less expensive homes
- 87582, NM: less expensive 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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