Garfield, NM 87941 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Garfield, NM—87941

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$182,000

2.7% YoY Growth

Household Income

$55,800

174.1% YoY Growth

Days on Market

N/A

Home Price Forecast

1.3%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Other Zip Codes in Garfield, NM

87936

Home Price Trends — Garfield, NM

As of May '26, the median home price in Garfield, NM is $182,000, with a year-over-year change of -2.7%. This indicates that home prices in Garfield, NM are decreasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$182,000	-2.7%
Single Family	$182,000	-0.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Garfield, NM

Garfield, 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

2 Bedrooms

37.3%

3 Bedrooms

62.7%

Property Listings — Garfield, NM

Garfield, NM lacks sufficient listing trend data for analysis.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	N/A	N/A
Listing Count	N/A	N/A
Listings as % of Homes	N/A	N/A
Days on Market	N/A	N/A

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Demographics — Garfield, NM

As of the latest ACS Survey released in 2023, Garfield, NM has a population of 899, which has remained stable by -0.4% over the past 5 years. Garfield, NM is a popular place for families, as children make up 27.0% of the population. The area has a poorly educated workforce, with 0.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	899	-0.4%
% Under 18	27.0%	-33.2%
% Seniors	9.9%	-32.2%
% WFH	3.2%	∞%
% w/ College Degree	0.0%	N/A

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As of the latest ACS Survey released in 2023, Garfield, NM is a predominantly hispanic area, with 92.7% of the population identifying as hispanic. The hispanic population has grown by 4.5% in the last 5 years. The second most common race or ethnicity in Garfield, NM is white, making up 7.3% of the population. Foreign-born residents account for 49.1% of the population in Garfield, NM, and this percentage has increased by 27.9% 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	7.3%	-35.4%
% Black	0.0%	N/A
% Hispanic	92.7%	4.5%
% Asian	0.0%	N/A
% Foreign Born	49.1%	27.9%

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Mortgage and Risk — Garfield, NM

According to HUD data as of 2023, there were 6 mortgage originations in Garfield, NM, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Garfield, NM. Investor activity is low, as 0.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	6
% Conventional Loans	100.0%
% Government Loans	0.0%
% Investor Loans	0.0%
% Second Loans	17.0%
% Cash Out Refinance	17.0%

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Rentals and Section 8 — Garfield, NM

Garfield, NM lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	N/A
Total Units Section 8	N/A
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$940
2 Bedroom	N/A	N/A	$1,040
3 Bedroom	N/A	N/A	$1,450
4 Bedroom	N/A	N/A	$1,600

Garfield, NM—87941

Key Metrics at a Glance

Other Zip Codes in Garfield, NM

Home Price Trends — Garfield, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Garfield, NM

% of Rental Stock

Property Listings — Garfield, NM

Demographics — Garfield, NM

Race and Ethnicity

Mortgage and Risk — Garfield, NM

Mortgages

Rentals and Section 8 — Garfield, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Garfield, NM

Home Price to Income Ratio

Garfield, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield, NM

Las Cruces, NM

Rincon, NM

Las Cruces, NM

Las Cruces, NM

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$182,000
Median Household Income	$55,800

Garfield, NM—87941

Key Metrics at a Glance

Other Zip Codes in Garfield, NM

Home Price Trends — Garfield, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Garfield, NM

% of Rental Stock

Property Listings — Garfield, NM

Demographics — Garfield, NM

Race and Ethnicity

Mortgage and Risk — Garfield, NM

Mortgages

Rentals and Section 8 — Garfield, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Garfield, NM

Home Price to Income Ratio

Garfield, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield, NM

Las Cruces, NM

Rincon, NM

Las Cruces, NM

Las Cruces, NM

Frequently Asked Questions

What is the average home price in Garfield, NM 87941?

How have home prices in Garfield, NM 87941 changed over the past year?

What is the home price projection for Garfield, NM 87941?

What are the demographics of Garfield, NM 87941?

How long does it take homes to sell in Garfield, NM 87941?

What is the average rent price in Garfield, NM 87941?