View in Interactive Map

Belen, NM—87002

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$260,000
2.7% YoY Growth
Household Income
$51,500
34.4% YoY Growth
Days on Market
77
31.0% Shorter YoY
Home Price Forecast
2.7%
Median Rent
$1,340
1.9% YoY Growth
1-Bed Rent
$900
6.5% YoY Growth
2-Bed Rent
$1,280
16.5% YoY Growth
3-Bed Rent
$2,000
1.6% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Belen, NM

As of Dec '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 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$260,0002.7%
Single Family $261,0002.8%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$199,0002.6%
    3 Bed
    		$270,0003.1%
    4 Bed
    		$325,0002.2%
    5 Bed N/AN/A
    Loading chart...

    % of Housing Stock

    Studio
    2.0%
    1 Bedroom
    4.1%
    2 Bedrooms
    22.1%
    3 Bedrooms
    57.3%
    4 Bedrooms
    12.4%
    5+ Bedrooms
    2.1%

    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.

    TypeMedian RentAverage 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
    Loading chart...

    % of Rental Stock

    Studio
    3.0%
    1 Bedroom
    10.6%
    2 Bedrooms
    46.0%
    3 Bedrooms
    38.0%
    4 Bedrooms
    1.6%
    5+ Bedrooms
    0.9%

    Property Listings — Belen, NM

    As of Dec '25, Realtor.com reports that the median days on market for a home in Belen, NM is 72. This is a decrease of -31.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$300,0003.0%
    Listing Count
    		10718.0%
    Listings as % of Homes0.9%18.0%
    Days on Market
    		77-31.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % 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%
    Loading chart...

    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

    MetricLatest Census5-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%
    Loading chart...

    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

    MetricZip 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%
    Loading chart...
    Loading chart...

    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio4.4
    Median Home Price$260,000
    Median Household Income$51,500

    Belen, NM — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Jarales, NM

    87023

    Sabinal, NM

    87006

    Los Lunas, NM

    87031

    Los Lunas, NM

    87042

    Isleta Village Proper

    87022

    Frequently Asked Questions