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Affordable
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These days, finding an affordable place to live in the 88005 area can be challenging. Home prices in 88005 are now at a median cost of $221,884, lower than the New Mexico average of $265,486.
The average cost of rent is $950/mo in 88005, primarily driven by the current value of real estate in the 88005 area. In 88005, 40.88% of households rent, and 50.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 88005 is $4,244 per month. Households that rent pay about 22.38% of their income on rent here. 88005’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern 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
- 88001, NM: less expensive homes
- 88046, NM: higher priced homes
- 88003, NM: equally priced homes
- 88007, NM: higher priced homes
- 88011, NM: higher priced homes
- 88047, NM: equally priced homes
- 88012, NM: higher priced homes
- 88052, NM: equally priced homes
- 88002, NM: equally priced homes
- 88342, NM: less expensive homes
Zip Codes with Similar Populations
- 19122, PA: higher priced homes
- 82604, WY: higher priced homes
- 48150, MI: higher priced homes
- 48161, MI: less expensive homes
- 48335, MI: higher priced homes
- 70517, LA: less expensive homes
- 75160, TX: higher priced homes
- 76052, TX: higher priced homes
- 76132, TX: higher priced homes
- 76201, TX: higher priced homes
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