Expensive
Affordable
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These days, finding an affordable place to live in the Corrales area can be challenging. Home prices in Corrales are now at a median cost of $589,953, higher than the New Mexico average of $265,486.
The average cost of rent is $1,221/mo in Corrales, primarily driven by the current value of real estate in the Corrales area. In Corrales, 12.63% of households rent, and 45.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Corrales is $8,572 per month. Households that rent pay about 14.25% of their income on rent here. Corrales’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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