Santa Fe, NM—87506
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 $1,096,000, with a year-over-year change of 0.3%. This indicates that home prices in Santa Fe, NM are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,096,000 | 0.3% |
| Single Family | $1,145,000 | -0.1% |
| Condos | $630,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $421,000 | -3.0% |
2 Bed | $610,000 | -0.8% |
3 Bed | $1,178,000 | 0.3% |
4 Bed | $1,476,000 | 1.0% |
| 5 Bed | $2,003,000 | 1.8% |
% of Housing Stock
Rental Trends — Santa Fe, NM
As of July '25, Rentcast reports the average rent in Santa Fe, NM is $3,960, with a year-over-year rent change of -18.9%. Per bedroom, the median rent as of July '25 in Santa Fe, NM is 1-bedrooms: $3,450, 2-bedrooms: $3,210, 3-bedrooms: $4,750. The most common rental property sizes in Santa Fe, NM are 3-bedroom and 2-bedroom, accounting for 38.2% and 38.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,960 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,700 | $3,450 |
| 2 Bed Rent | $2,900 | $3,210 |
| 3 Bed Rent | $4,250 | $4,750 |
| 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 81. This is a increase of 8.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,930,000 | 5.0% |
Listing Count | 182 | 14.0% |
| Listings as % of Homes | 1.3% | 14.0% |
Days on Market | 81 | 8.0% |
Demographics — Santa Fe, NM
As of the latest ACS Survey released in 2023, Santa Fe, NM has a population of 16,100, which has increased by 21.5% over the past 5 years. Santa Fe, NM is a less popular place for families, as children make up 14.9% of the population. The area has a highly educated workforce, with 46.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,100 | 21.5% |
% Under 18 | 14.9% | -15.3% |
% Seniors | 34.4% | 20.3% |
% WFH | 18.7% | 40.6% |
% w/ College Degree | 46.6% | -0.9% |
As of the latest ACS Survey released in 2023, Santa Fe, NM is a predominantly white area, with 43.6% of the population identifying as white. The white population has grown by 4.6% in the last 5 years. The second most common race or ethnicity in Santa Fe, NM is hispanic, making up 40.8% of the population. Foreign-born residents account for 7.9% of the population in Santa Fe, NM, and this percentage has increased by 25.4% 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 | 43.6% | 4.6% |
% Black | 0.4% | -73.3% |
% Hispanic | 40.8% | -3.3% |
% Asian | 1.0% | 66.7% |
% Foreign Born | 7.9% | 25.4% |
Mortgage and Risk — Santa Fe, NM
According to HUD data as of 2023, there were 156 mortgage originations in Santa Fe, NM, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Santa Fe, NM. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 156 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 12.0% |
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 | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,500 | $2,700 | $1,200 |
| 2 Bedroom | -$1,470 | $2,900 | $1,430 |
| 3 Bedroom | -$2,440 | $4,250 | $1,810 |
| 4 Bedroom | N/A | N/A | $2,090 |
Affordability — Santa Fe, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11.5 |
| Median Home Price | $1,096,000 |
| Median Household Income | $90,500 |