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These days, finding an affordable place to live in the 88040 area can be challenging. Home prices in 88040 are now at a median cost of $159,509, lower than the New Mexico average of $265,486.
The average cost of rent is $568/mo in 88040, primarily driven by the current value of real estate in the 88040 area. In 88040, 17.55% of households rent, and 73.61% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 88040 is $3,314 per month. Households that rent pay about 17.15% of their income on rent here. 88040’s most expensive areas are in the northern regions, while the cheapest areas are in the southeastern 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
- 88009, NM: equally priced homes
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- 85610, AZ: higher priced homes
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Zip Codes with Similar Populations
- 82714, WY: higher priced homes
- 50673, IA: higher priced homes
- 50835, IA: equally priced homes
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- 81237, CO: higher priced homes
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