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Expensive
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These days, finding an affordable place to live in the 87940 area can be challenging. Home prices in 87940 are now at a median cost of $56,400, lower than the New Mexico average of $199,923.
The average cost of rent is $436/mo in 87940, primarily driven by the current value of real estate in the 87940 area. While nearly 98.32% of residents own their homes outright in 87940, 35.96% rent.
Housing affordability isn’t just about home prices, though. The average household income in 87940 is $1,861 per month. Households that rent pay about 23.41% of their income on rent here. 87940's most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the zip.
Nearby Zip Codes
- 87937, NM: higher priced homes
- 87941, NM: equally priced homes
- 87936, NM: equally priced homes
- 87933, NM: higher priced homes
- 88034, NM: higher priced homes
- 88043, NM: higher priced homes
- 88023, NM: higher priced homes
- 88026, NM: higher priced homes
- 88022, NM: higher priced homes
- 88061, NM: higher priced homes
Zip Codes with Similar Populations
- 97145, OR: higher priced homes
- 15633, PA: higher priced homes
- 15663, PA: higher priced homes
- 16172, PA: higher priced homes
- 16326, PA: higher priced homes
- 87827, NM: higher priced homes
- 89425, NV: higher priced homes
- 92147, CA: higher priced homes
- 94516, CA: higher priced homes
- 96037, CA: higher priced homes
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