Espanola, NM—87532
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Espanola, NM
As of Oct '25, the median home price in Espanola, NM is $330,000, with a year-over-year change of 6.2%. This indicates that home prices in Espanola, NM are increasing. 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 | $330,000 | 6.3% |
| Single Family | $330,000 | 5.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $255,000 | 0.4% |
3 Bed | $342,000 | 2.1% |
4 Bed | $424,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Espanola, NM
As of July '25, Rentcast reports the average rent in Espanola, NM is $1,550, with a year-over-year rent change of 40.9%. Per bedroom, the median rent as of July '25 in Espanola, NM is 1-bedrooms: $1,650, 2-bedrooms: $1,180, 3-bedrooms: $2,620. The most common rental property sizes in Espanola, NM are 3-bedroom and 2-bedroom, accounting for 43.2% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,550 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,500 | $1,650 |
| 2 Bed Rent | $1,160 | $1,180 |
| 3 Bed Rent | $1,250 | $2,620 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Espanola, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Espanola, NM is 103. This is a increase of 43.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $488,000 | 21.0% |
Listing Count | 34 | -5.0% |
| Listings as % of Homes | 0.4% | -5.0% |
Days on Market | 103 | 43.0% |
Demographics — Espanola, NM
As of the latest ACS Survey released in 2023, Espanola, NM has a population of 19,500, which has increased by 4.1% over the past 5 years. Espanola, NM is a moderately popular place for families, as children make up 24.0% of the population. The area has a poorly educated workforce, with 23.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,500 | 4.1% |
% Under 18 | 24.0% | -3.6% |
% Seniors | 19.2% | 9.1% |
% WFH | 8.9% | N/A |
% w/ College Degree | 23.2% | 16.6% |
As of the latest ACS Survey released in 2023, Espanola, NM is a predominantly hispanic area, with 71.6% of the population identifying as hispanic. The hispanic population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Espanola, NM is white, making up 14.9% of the population. Foreign-born residents account for 8.5% of the population in Espanola, NM, and this percentage has increased by 26.9% 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 | 14.9% | 7.2% |
% Black | 1.0% | 66.7% |
% Hispanic | 71.6% | -7.1% |
% Asian | 0.6% | -33.3% |
% Foreign Born | 8.5% | 26.9% |
Mortgage and Risk — Espanola, NM
According to HUD data as of 2023, there were 159 mortgage originations in Espanola, NM, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Espanola, 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 | 159 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Espanola, NM
Espanola, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 398 |
Total Units Section 8 | 168 |
% Rentals under Section 8 | 5.7% |
% Occupied Section 8 | 87.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$310 | $1,500 | $1,190 |
| 2 Bedroom | $230 | $1,160 | $1,390 |
| 3 Bedroom | $520 | $1,250 | $1,770 |
| 4 Bedroom | N/A | N/A | $1,840 |
Affordability — Espanola, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $330,000 |
| Median Household Income | $57,100 |