Belen, NM—87002
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Belen, NM
As of Oct '25, the median home price in Belen, NM is $260,000, with a year-over-year change of 2.7%. This indicates that home prices in Belen, NM are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $260,000 | 2.7% |
| Single Family | $261,000 | 3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $200,000 | 3.1% |
3 Bed | $270,000 | 3.4% |
4 Bed | $327,000 | 2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Belen, NM
As of July '25, Rentcast reports the average rent in Belen, NM is $1,570, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Belen, NM is studios: $800, 1-bedrooms: $905, 2-bedrooms: $1,270, 3-bedrooms: $1,940, 4-bedrooms: $2,020. The most common rental property sizes in Belen, NM are 2-bedroom and 3-bedroom, accounting for 46.0% and 38.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,570 |
| Studio Rent | $800 | $800 |
| 1 Bed Rent | $900 | $905 |
| 2 Bed Rent | $1,280 | $1,270 |
| 3 Bed Rent | $2,000 | $1,940 |
| 4 Bed Rent | $2,100 | $2,020 |
% of Rental Stock
Property Listings — Belen, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Belen, NM is 64. This is a decrease of -29.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $316,000 | 6.0% |
Listing Count | 108 | -3.0% |
| Listings as % of Homes | 0.9% | -3.0% |
Days on Market | 64 | -29.0% |
Demographics — Belen, NM
As of the latest ACS Survey released in 2023, Belen, NM has a population of 21,400, which has decreased by -1.5% over the past 5 years. Belen, NM is a moderately popular place for families, as children make up 18.8% of the population. The area has a poorly educated workforce, with 18.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | -1.5% |
% Under 18 | 18.8% | -16.4% |
% Seniors | 21.5% | 7.0% |
% WFH | 9.1% | 33.8% |
% w/ College Degree | 18.8% | 10.6% |
As of the latest ACS Survey released in 2023, Belen, NM is a predominantly hispanic area, with 63.0% of the population identifying as hispanic. The hispanic population has grown by 4.1% in the last 5 years. The second most common race or ethnicity in Belen, NM is white, making up 31.0% of the population. Foreign-born residents account for 8.7% of the population in Belen, NM, and this percentage has increased by 102.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.0% | -6.1% |
% Black | 1.4% | 100.0% |
% Hispanic | 63.0% | 4.1% |
% Asian | 0.9% | 200.0% |
% Foreign Born | 8.7% | 102.3% |
Mortgage and Risk — Belen, NM
According to HUD data as of 2023, there were 378 mortgage originations in Belen, NM, of which 52.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Belen, NM. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 378 |
% Conventional Loans | 52.0% |
% Government Loans | 48.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Belen, NM
As of 2024, the percent of homes in Belen, NM under the Section 8 program is 25.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Belen, NM, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 370 |
Total Units Section 8 | 363 |
% Rentals under Section 8 | 25.2% |
% Occupied Section 8 | 72.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $900 | $910 |
| 2 Bedroom | -$180 | $1,280 | $1,100 |
| 3 Bedroom | -$450 | $2,000 | $1,550 |
| 4 Bedroom | -$240 | $2,100 | $1,860 |
Affordability — Belen, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $260,000 |
| Median Household Income | $51,500 |