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Santa Fe, NM—87505

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$573,000
0.2% YoY Growth
Household Income
$75,900
27.5% YoY Growth
Days on Market
42
12.0% Shorter YoY
Home Price Forecast
-0.7%
Median Rent
$1,900
4.2% YoY Growth
1-Bed Rent
$1,770
1.7% YoY Growth
2-Bed Rent
$2,040
2.3% YoY Growth
3-Bed Rent
$2,900
12.3% YoY Growth

Other Zip Codes in Santa Fe, NM

87508875068750187507
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Santa Fe, NM

As of May '26, the median home price in Santa Fe, NM is $573,000, with a year-over-year change of -0.2%. This indicates that home prices in Santa Fe, NM are flat. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$573,000-0.2%
Single Family $618,000-0.2%
Condos $302,000-0.7%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $277,000
    -2.1%
    2 Bed
    		$453,000-0.4%
    3 Bed
    		$609,0000.0%
    4 Bed
    		$829,0000.6%
    5 Bed $1,385,9831.5%
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    % of Housing Stock

    Studio
    3.4%
    1 Bedroom
    17.9%
    2 Bedrooms
    31.7%
    3 Bedrooms
    35.4%
    4 Bedrooms
    9.2%
    5+ Bedrooms
    2.3%

    Rental Trends — Santa Fe, NM

    As of July '25, Rentcast reports the average rent in Santa Fe, NM is $2,050, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in Santa Fe, NM is studios: $1,270, 1-bedrooms: $1,750, 2-bedrooms: $2,080, 3-bedrooms: $3,190, 4-bedrooms: $3,400. The most common rental property sizes in Santa Fe, NM are 1-bedroom and 2-bedroom, accounting for 37.9% and 34.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,900$2,050
    Studio Rent $1,050$1,270
    1 Bed Rent $1,770$1,750
    2 Bed Rent $2,040$2,080
    3 Bed Rent $2,900$3,190
    4 Bed Rent $3,000$3,400
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    % of Rental Stock

    Studio
    6.8%
    1 Bedroom
    37.9%
    2 Bedrooms
    34.7%
    3 Bedrooms
    19.7%
    4 Bedrooms
    0.8%

    Property Listings — Santa Fe, NM

    As of May '26, Realtor.com reports that the median days on market for a home in Santa Fe, NM is 42. This is a decrease of -12.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$855,00013.0%
    Listing Count
    		1775.0%
    Listings as % of Homes0.5%5.0%
    Days on Market
    		42-12.0%
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    Demographics — Santa Fe, NM

    As of the latest ACS Survey released in 2023, Santa Fe, NM has a population of 32,200, which has increased by 5.0% over the past 5 years. Santa Fe, NM is a less popular place for families, as children make up 10.8% of the population. The area has a highly educated workforce, with 54.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		32,2005.0%
    % Under 18
    		10.8%-28.9%
    % Seniors
    		33.0%21.8%
    % WFH
    		20.8%144.7%
    % w/ College Degree
    		54.3%8.8%
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    As of the latest ACS Survey released in 2023, Santa Fe, NM is a predominantly white area, with 55.2% of the population identifying as white. The white population has grown by 10.0% in the last 5 years. The second most common race or ethnicity in Santa Fe, NM is hispanic, making up 36.2% of the population. Foreign-born residents account for 10.2% of the population in Santa Fe, NM, and this percentage has decreased by 12.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		55.2%10.0%
    % Black
    		1.8%80.0%
    % Hispanic
    		36.2%-17.5%
    % Asian
    		2.2%83.3%
    % Foreign Born
    		10.2%-12.1%
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    Mortgage and Risk — Santa Fe, NM

    According to HUD data as of 2023, there were 452 mortgage originations in Santa Fe, NM, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Santa Fe, NM. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		452
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		6.0%
    % Cash Out Refinance
    		12.0%
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    Rentals and Section 8 — Santa Fe, NM

    As of 2024, the percent of homes in Santa Fe, NM under the Section 8 program is 15.2%. 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. In Santa Fe, NM, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		1,011
    Total Units Section 8
    		1,011
    % Rentals under Section 8
    		15.2%
    % Occupied Section 8
    		87.3%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$410$1,770$1,360
    2 Bedroom-$420$2,040$1,620
    3 Bedroom-$850$2,900$2,050
    4 Bedroom-$850$3,000$2,150

    Affordability — Santa Fe, NM

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.2
    Median Home Price$573,000
    Median Household Income$75,900

    Santa Fe, NM — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Santa Fe, NM

    87501

    Santa Fe, NM

    87508

    Glorieta, NM

    87535

    Santa Fe, NM

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    87540

    Frequently Asked Questions