Belen, NM 87002 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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

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 — 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 Type	Median Home Value	YoY % Change
All Homes	$260,000	2.7%
Single Family	$261,000	2.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% 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.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$300,000	3.0%
Listing Count	107	18.0%
Listings as % of Homes	0.9%	18.0%
Days on Market	77	-31.0%

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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%

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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%

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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%

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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

Belen, NM—87002

Key Metrics at a Glance

Home Price Trends — Belen, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Belen, NM

% of Rental Stock

Property Listings — Belen, NM

Demographics — Belen, NM

Race and Ethnicity

Mortgage and Risk — Belen, NM

Mortgages

Rentals and Section 8 — Belen, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Belen, NM

Home Price to Income Ratio

Belen, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Jarales, NM

Sabinal, NM

Los Lunas, NM

Los Lunas, NM

Isleta Village Proper

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.4
Median Home Price	$260,000
Median Household Income	$51,500

Belen, NM—87002

Key Metrics at a Glance

Home Price Trends — Belen, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Belen, NM

% of Rental Stock

Property Listings — Belen, NM

Demographics — Belen, NM

Race and Ethnicity

Mortgage and Risk — Belen, NM

Mortgages

Rentals and Section 8 — Belen, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Belen, NM

Home Price to Income Ratio

Belen, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Jarales, NM

Sabinal, NM

Los Lunas, NM

Los Lunas, NM

Isleta Village Proper

Frequently Asked Questions

What is the average home price in Belen, NM 87002?

How have home prices in Belen, NM 87002 changed over the past year?

What is the home price projection for Belen, NM 87002?

What are the demographics of Belen, NM 87002?

How long does it take homes to sell in Belen, NM 87002?

What is the average rent price in Belen, NM 87002?