Correo, NM—87026
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Correo, NM
Correo, NM lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | N/A | N/A |
| Single Family | N/A | N/A |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Correo, NM
Correo, NM lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 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 — Correo, NM
Correo, NM lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | N/A | N/A |
Listing Count | N/A | N/A |
| Listings as % of Homes | N/A | N/A |
Days on Market | N/A | N/A |
Demographics — Correo, NM
As of the latest ACS Survey released in 2023, Correo, NM has a population of 3,460, which has decreased by -15.7% over the past 5 years. Correo, NM is a popular place for families, as children make up 29.4% of the population. The area has a poorly educated workforce, with 8.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,460 | -15.7% |
% Under 18 | 29.4% | 15.3% |
% Seniors | 11.3% | 2.7% |
% WFH | 8.6% | 43.3% |
% w/ College Degree | 8.3% | 0.0% |
As of the latest ACS Survey released in 2023, Correo, NM is a predominantly white area, with 8.0% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Correo, NM is hispanic, making up 4.7% of the population. Foreign-born residents account for 0.0% of the population in Correo, NM, and this percentage has decreased by 100.0% 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 | 8.0% | -1.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 4.7% | -41.2% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Correo, NM
According to HUD data as of 2023, there were 8 mortgage originations in Correo, NM, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 62.0% above 90% LTV (very high). This implies large mortgage risk in Correo, NM. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 8 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Correo, NM
Correo, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $910 |
| 2 Bedroom | N/A | N/A | $1,100 |
| 3 Bedroom | N/A | N/A | $1,550 |
| 4 Bedroom | N/A | N/A | $1,860 |
Affordability — Correo, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | N/A |
| Median Home Price | N/A |
| Median Household Income | $44,000 |