Las Cruces, NM 87937 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Las Cruces, NM—87937

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$167,000

8.6% YoY Growth

Household Income

$39,200

112.8% YoY Growth

Days on Market

105

24.0% Shorter YoY

Home Price Forecast

2.6%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Other Zip Codes in Las Cruces, NM

88007 88005 88001 88011 88012

Home Price Trends — Las Cruces, NM

As of Dec '25, the median home price in Las Cruces, NM is $167,000, with a year-over-year change of -8.6%. This indicates that home prices in Las Cruces, NM are decreasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$167,000	-8.6%
Single Family	$167,000	-9.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Las Cruces, NM

Las Cruces, NM lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	N/A	N/A
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

12.7%

2 Bedrooms

37.8%

3 Bedrooms

30.5%

4 Bedrooms

18.9%

Property Listings — Las Cruces, NM

As of Dec '25, Realtor.com reports that the median days on market for a home in Las Cruces, NM is 73. This is a decrease of -60.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$100,000	-61.0%
Listing Count	3	-33.0%
Listings as % of Homes	0.1%	-33.0%
Days on Market	105	-24.0%

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Demographics — Las Cruces, NM

As of the latest ACS Survey released in 2023, Las Cruces, NM has a population of 3,340, which has increased by 22.6% over the past 5 years. Las Cruces, NM is a popular place for families, as children make up 28.1% of the population. The area has a poorly educated workforce, with 7.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	3,340	22.6%
% Under 18	28.1%	-17.1%
% Seniors	12.7%	-18.6%
% WFH	1.2%	-55.6%
% w/ College Degree	7.1%	-53.3%

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As of the latest ACS Survey released in 2023, Las Cruces, NM is a predominantly hispanic area, with 89.3% of the population identifying as hispanic. The hispanic population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in Las Cruces, NM is white, making up 10.7% of the population. Foreign-born residents account for 28.5% of the population in Las Cruces, NM, and this percentage has decreased by 8.1% 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	10.7%	-20.1%
% Black	0.0%	-100.0%
% Hispanic	89.3%	3.8%
% Asian	0.0%	N/A
% Foreign Born	28.5%	-8.1%

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Mortgage and Risk — Las Cruces, NM

According to HUD data as of 2023, there were 6 mortgage originations in Las Cruces, NM, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 98.0%, with 100.0% above 90% LTV (very high). This implies large mortgage risk in Las Cruces, NM. Investor activity is low, as 0.0% of loans were by investors. 33.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	6
% Conventional Loans	50.0%
% Government Loans	50.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	33.0%

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Rentals and Section 8 — Las Cruces, NM

Las Cruces, NM lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	36
Total Units Section 8	36
% Rentals under Section 8	13.5%
% Occupied Section 8	96.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$840
2 Bedroom	N/A	N/A	$930
3 Bedroom	N/A	N/A	$1,300
4 Bedroom	N/A	N/A	$1,440

Las Cruces, NM—87937

Key Metrics at a Glance

Other Zip Codes in Las Cruces, NM

Home Price Trends — Las Cruces, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Las Cruces, NM

% of Rental Stock

Property Listings — Las Cruces, NM

Demographics — Las Cruces, NM

Race and Ethnicity

Mortgage and Risk — Las Cruces, NM

Mortgages

Rentals and Section 8 — Las Cruces, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Las Cruces, NM

Home Price to Income Ratio

Las Cruces, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield, NM

Garfield, NM

Rincon, NM

Las Cruces, NM

Las Cruces, NM

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.1
Median Home Price	$167,000
Median Household Income	$39,200

Las Cruces, NM—87937

Key Metrics at a Glance

Other Zip Codes in Las Cruces, NM

Home Price Trends — Las Cruces, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Las Cruces, NM

% of Rental Stock

Property Listings — Las Cruces, NM

Demographics — Las Cruces, NM

Race and Ethnicity

Mortgage and Risk — Las Cruces, NM

Mortgages

Rentals and Section 8 — Las Cruces, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Las Cruces, NM

Home Price to Income Ratio

Las Cruces, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield, NM

Garfield, NM

Rincon, NM

Las Cruces, NM

Las Cruces, NM

Frequently Asked Questions

What is the average home price in Las Cruces, NM 87937?

How have home prices in Las Cruces, NM 87937 changed over the past year?

What is the home price projection for Las Cruces, NM 87937?

What are the demographics of Las Cruces, NM 87937?

How long does it take homes to sell in Las Cruces, NM 87937?

What is the average rent price in Las Cruces, NM 87937?