Santa Fe, NM—87508
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 $643,000, with a year-over-year change of -0.7%. 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 | $643,000 | -0.7% |
| Single Family | $643,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $411,000 | -4.9% |
2 Bed | $510,000 | -1.4% |
3 Bed | $639,000 | -0.8% |
4 Bed | $769,000 | -0.5% |
| 5 Bed | $887,000 | -0.9% |
% of Housing Stock
Rental Trends — Santa Fe, NM
As of July '25, Rentcast reports the average rent in Santa Fe, NM is $3,210, with a year-over-year rent change of 16.3%. Per bedroom, the median rent as of July '25 in Santa Fe, NM is studios: $1,250, 1-bedrooms: $1,490, 2-bedrooms: $2,690, 3-bedrooms: $3,690, 4-bedrooms: $3,500. The most common rental property sizes in Santa Fe, NM are 3-bedroom and 2-bedroom, accounting for 36.4% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,210 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,380 | $1,490 |
| 2 Bed Rent | $2,470 | $2,690 |
| 3 Bed Rent | $3,800 | $3,690 |
| 4 Bed Rent | $3,500 | $3,500 |
% 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 78. This is a increase of 20.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $798,000 | 1.0% |
Listing Count | 139 | 23.0% |
| Listings as % of Homes | 0.9% | 23.0% |
Days on Market | 78 | 20.0% |
Demographics — Santa Fe, NM
As of the latest ACS Survey released in 2023, Santa Fe, NM has a population of 18,700, which has decreased by -3.4% over the past 5 years. Santa Fe, NM is a moderately popular place for families, as children make up 15.7% of the population. The area has a highly educated workforce, with 50.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,700 | -3.4% |
% Under 18 | 15.7% | 4.0% |
% Seniors | 31.8% | 22.8% |
% WFH | 22.9% | 90.8% |
% w/ College Degree | 50.1% | 0.4% |
As of the latest ACS Survey released in 2023, Santa Fe, NM is a predominantly white area, with 55.6% of the population identifying as white. The white population has grown by 4.9% in the last 5 years. The second most common race or ethnicity in Santa Fe, NM is hispanic, making up 39.0% of the population. Foreign-born residents account for 9.1% of the population in Santa Fe, NM, and this percentage has decreased by 11.7% 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 | 55.6% | 4.9% |
% Black | 1.0% | -23.1% |
% Hispanic | 39.0% | -1.8% |
% Asian | 1.3% | -63.9% |
% Foreign Born | 9.1% | -11.7% |
Mortgage and Risk — Santa Fe, NM
According to HUD data as of 2023, there were 401 mortgage originations in Santa Fe, NM, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Santa Fe, NM. Investor activity is low, as 0.0% 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 | 401 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 0.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 13.0% |
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 2.0%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Santa Fe, NM, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 103 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,380 | $1,720 |
| 2 Bedroom | -$430 | $2,470 | $2,040 |
| 3 Bedroom | -$1,220 | $3,800 | $2,580 |
| 4 Bedroom | -$800 | $3,500 | $2,700 |
Affordability — Santa Fe, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $643,000 |
| Median Household Income | $96,800 |