Santa Fe, NM—87507
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 $456,000, with a year-over-year change of -0.1%. This indicates that home prices in Santa Fe, NM are flat. 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 | $456,000 | -0.1% |
| Single Family | $465,000 | -0.4% |
| Condos | $307,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $281,000 | 0.0% |
2 Bed | $377,000 | -0.3% |
3 Bed | $461,000 | -0.2% |
4 Bed | $547,000 | 0.0% |
| 5 Bed | $698,000 | -1.1% |
% of Housing Stock
Rental Trends — Santa Fe, NM
As of July '25, Rentcast reports the average rent in Santa Fe, NM is $1,950, with a year-over-year rent change of -4.9%. Per bedroom, the median rent as of July '25 in Santa Fe, NM is studios: $1,200, 1-bedrooms: $1,720, 2-bedrooms: $2,070, 3-bedrooms: $2,710, 4-bedrooms: $3,090. The most common rental property sizes in Santa Fe, NM are 2-bedroom and 3-bedroom, accounting for 35.1% and 32.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,870 | $1,950 |
| Studio Rent | $1,160 | $1,200 |
| 1 Bed Rent | $1,750 | $1,720 |
| 2 Bed Rent | $2,070 | $2,070 |
| 3 Bed Rent | $2,740 | $2,710 |
| 4 Bed Rent | $2,850 | $3,090 |
% 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 72. This is a increase of 26.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | 0.0% |
Listing Count | 225 | 20.0% |
| Listings as % of Homes | 0.7% | 20.0% |
Days on Market | 72 | 26.0% |
Demographics — Santa Fe, NM
As of the latest ACS Survey released in 2023, Santa Fe, NM has a population of 51,100, which has increased by 4.4% over the past 5 years. Santa Fe, NM is a moderately popular place for families, as children make up 22.4% of the population. The area has a moderately educated workforce, with 30.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,100 | 4.4% |
% Under 18 | 22.4% | -8.2% |
% Seniors | 16.7% | 25.6% |
% WFH | 11.9% | 197.5% |
% w/ College Degree | 30.8% | 13.7% |
As of the latest ACS Survey released in 2023, Santa Fe, NM is a predominantly hispanic area, with 68.3% of the population identifying as hispanic. The hispanic population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Santa Fe, NM is white, making up 24.9% of the population. Foreign-born residents account for 20.3% of the population in Santa Fe, NM, and this percentage has decreased by 0.5% 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 | 24.9% | 4.2% |
% Black | 1.0% | -9.1% |
% Hispanic | 68.3% | -5.1% |
% Asian | 1.7% | 70.0% |
% Foreign Born | 20.3% | -0.5% |
Mortgage and Risk — Santa Fe, NM
According to HUD data as of 2023, there were 659 mortgage originations in Santa Fe, NM, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Santa Fe, NM. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 659 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Santa Fe, NM
As of 2024, the percent of homes in Santa Fe, NM under the Section 8 program is 8.9%. This is considered low, suggesting that the neighborhood is sparsely 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 | 716 |
Total Units Section 8 | 595 |
% Rentals under Section 8 | 8.9% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$460 | $1,750 | $1,290 |
| 2 Bedroom | -$540 | $2,070 | $1,530 |
| 3 Bedroom | -$810 | $2,740 | $1,930 |
| 4 Bedroom | -$820 | $2,850 | $2,030 |
Affordability — Santa Fe, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.8 |
| Median Home Price | $456,000 |
| Median Household Income | $63,000 |