Santa Fe, NM—87501
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Fe, NM
As of Oct '25, the median home price in Santa Fe, NM is $730,000, with a year-over-year change of -0.9%. This indicates that home prices in Santa Fe, NM are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $730,000 | -0.9% |
| Single Family | $781,000 | -1.0% |
| Condos | $569,000 | -0.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $422,000 | -1.9% |
2 Bed | $618,000 | -0.6% |
3 Bed | $816,000 | 0.0% |
4 Bed | $1,227,000 | 0.8% |
| 5 Bed | $1,961,000 | 1.2% |
% of Housing Stock
Rental Trends — Santa Fe, NM
As of July '25, Rentcast reports the average rent in Santa Fe, NM is $2,440, with a year-over-year rent change of 4.7%. Per bedroom, the median rent as of July '25 in Santa Fe, NM is studios: $1,410, 1-bedrooms: $1,930, 2-bedrooms: $2,590, 3-bedrooms: $3,060. The most common rental property sizes in Santa Fe, NM are 2-bedroom and 1-bedroom, accounting for 46.1% and 30.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,140 | $2,440 |
| Studio Rent | $1,250 | $1,410 |
| 1 Bed Rent | $1,780 | $1,930 |
| 2 Bed Rent | $2,330 | $2,590 |
| 3 Bed Rent | $2,800 | $3,060 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Santa Fe, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Santa Fe, NM is 84. This is a increase of 28.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,010,000 | 0.0% |
Listing Count | 211 | 10.0% |
| Listings as % of Homes | 0.8% | 10.0% |
Days on Market | 84 | 28.0% |
Demographics — Santa Fe, NM
As of the latest ACS Survey released in 2023, Santa Fe, NM has a population of 15,400, which has decreased by -2.9% over the past 5 years. Santa Fe, NM is a less popular place for families, as children make up 9.0% of the population. The area has a highly educated workforce, with 60.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,400 | -2.9% |
% Under 18 | 9.0% | -14.3% |
% Seniors | 41.0% | 21.3% |
% WFH | 21.6% | 91.2% |
% w/ College Degree | 60.8% | 5.6% |
As of the latest ACS Survey released in 2023, Santa Fe, NM is a predominantly white area, with 64.2% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Santa Fe, NM is hispanic, making up 28.3% of the population. Foreign-born residents account for 7.5% of the population in Santa Fe, NM, and this percentage has decreased by 2.6% 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 | 64.2% | -1.7% |
% Black | 0.7% | -22.2% |
% Hispanic | 28.3% | -6.0% |
% Asian | 1.1% | -15.4% |
% Foreign Born | 7.5% | -2.6% |
Mortgage and Risk — Santa Fe, NM
According to HUD data as of 2023, there were 199 mortgage originations in Santa Fe, NM, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Santa Fe, NM. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 199 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 3.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Santa Fe, NM
Santa Fe, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 212 |
Total Units Section 8 | 184 |
% Rentals under Section 8 | 6.7% |
% Occupied Section 8 | 84.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,780 | $1,610 |
| 2 Bedroom | -$410 | $2,330 | $1,920 |
| 3 Bedroom | -$370 | $2,800 | $2,430 |
| 4 Bedroom | N/A | N/A | $2,550 |
Affordability — Santa Fe, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.7 |
| Median Home Price | $730,000 |
| Median Household Income | $81,200 |