Garfield, NM—87941
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Garfield, NM
Home Price Trends — Garfield, NM
As of Oct '25, the median home price in Garfield, NM is $165,000, with a year-over-year change of -3.6%. This indicates that home prices in Garfield, NM are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | -3.6% |
| Single Family | $165,000 | -5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
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 |
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 |
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% |
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% |
Loan Activity
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 |
Affordability — Garfield, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $165,000 |
| Median Household Income | $55,800 |