Cerrillos, NM—87010
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cerrillos, NM
As of Oct '25, the median home price in Cerrillos, NM is $391,000, with a year-over-year change of -1.4%. This indicates that home prices in Cerrillos, NM are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $391,000 | -1.4% |
| Single Family | $391,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $275,000 | -4.8% |
2 Bed | $361,000 | -2.2% |
3 Bed | $484,000 | -2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cerrillos, NM
Cerrillos, NM lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cerrillos, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Cerrillos, NM is 127. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $630,000 | -6.0% |
Listing Count | 20 | 15.0% |
| Listings as % of Homes | 1.6% | 15.0% |
Days on Market | 127 | 7.0% |
Demographics — Cerrillos, NM
As of the latest ACS Survey released in 2023, Cerrillos, NM has a population of 1,150, which has increased by 13.6% over the past 5 years. Cerrillos, NM is a less popular place for families, as children make up 10.4% of the population. The area has a highly educated workforce, with 62.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,150 | 13.6% |
% Under 18 | 10.4% | 395.2% |
% Seniors | 33.9% | -1.7% |
% WFH | 29.7% | 42.8% |
% w/ College Degree | 62.5% | 57.0% |
As of the latest ACS Survey released in 2023, Cerrillos, NM is a predominantly white area, with 88.3% of the population identifying as white. The white population has grown by 11.2% in the last 5 years. The second most common race or ethnicity in Cerrillos, NM is black, making up 2.4% of the population. Foreign-born residents account for 2.4% of the population in Cerrillos, NM, and this percentage has decreased by 54.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.3% | 11.2% |
% Black | 2.4% | ∞% |
% Hispanic | 0.8% | -95.8% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.4% | -54.7% |
Mortgage and Risk — Cerrillos, NM
According to HUD data as of 2023, there were 35 mortgage originations in Cerrillos, NM, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Cerrillos, NM. Investor activity is low, as 6.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 35 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 6.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Cerrillos, NM
Cerrillos, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $1,600 | $1,360 |
| 2 Bedroom | N/A | N/A | $1,620 |
| 3 Bedroom | N/A | N/A | $2,050 |
| 4 Bedroom | N/A | N/A | $2,150 |
Affordability — Cerrillos, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.4 |
| Median Home Price | $391,000 |
| Median Household Income | $45,500 |