Las Cruces, NM—88001
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Las Cruces, NM
As of Oct '25, the median home price in Las Cruces, NM is $207,000, with a year-over-year change of -0.2%. This indicates that home prices in Las Cruces, NM are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $207,000 | -0.2% |
| Single Family | $208,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $126,000 | -2.3% |
2 Bed | $164,000 | 0.0% |
3 Bed | $210,000 | -0.5% |
4 Bed | $241,000 | 0.0% |
| 5 Bed | $279,000 | 0.0% |
% of Housing Stock
Rental Trends — Las Cruces, NM
As of July '25, Rentcast reports the average rent in Las Cruces, NM is $1,140, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Las Cruces, NM is studios: $750, 1-bedrooms: $799, 2-bedrooms: $1,060, 3-bedrooms: $1,280, 4-bedrooms: $1,750. The most common rental property sizes in Las Cruces, NM are 2-bedroom and 3-bedroom, accounting for 41.1% and 20.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,080 | $1,140 |
| Studio Rent | $600 | $750 |
| 1 Bed Rent | $795 | $799 |
| 2 Bed Rent | $975 | $1,060 |
| 3 Bed Rent | $1,200 | $1,280 |
| 4 Bed Rent | $1,700 | $1,750 |
% of Rental Stock
Property Listings — Las Cruces, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Las Cruces, NM is 77. This is a increase of 60.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $233,000 | 0.0% |
Listing Count | 102 | 9.0% |
| Listings as % of Homes | 0.4% | 9.0% |
Days on Market | 77 | 60.0% |
Demographics — Las Cruces, NM
As of the latest ACS Survey released in 2023, Las Cruces, NM has a population of 39,000, which has increased by 5.9% over the past 5 years. Las Cruces, NM is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 28.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,000 | 5.9% |
% Under 18 | 21.2% | 0.5% |
% Seniors | 11.3% | -5.0% |
% WFH | 7.0% | 94.4% |
% w/ College Degree | 28.6% | 24.3% |
As of the latest ACS Survey released in 2023, Las Cruces, NM is a predominantly hispanic area, with 72.4% of the population identifying as hispanic. The hispanic population has grown by 4.6% in the last 5 years. The second most common race or ethnicity in Las Cruces, NM is white, making up 20.7% of the population. Foreign-born residents account for 12.2% of the population in Las Cruces, NM, and this percentage has increased by 2.5% 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 | 20.7% | -13.4% |
% Black | 3.1% | -3.1% |
% Hispanic | 72.4% | 4.6% |
% Asian | 2.1% | 16.7% |
% Foreign Born | 12.2% | 2.5% |
Mortgage and Risk — Las Cruces, NM
According to HUD data as of 2023, there were 370 mortgage originations in Las Cruces, NM, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Las Cruces, NM. Investor activity is low, as 6.0% 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 | 370 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 6.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Las Cruces, NM
As of 2024, the percent of homes in Las Cruces, NM under the Section 8 program is 10.1%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Las Cruces, NM, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,239 |
Total Units Section 8 | 947 |
% Rentals under Section 8 | 10.1% |
% Occupied Section 8 | 74.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $165 | $795 | $960 |
| 2 Bedroom | $85 | $975 | $1,060 |
| 3 Bedroom | $270 | $1,200 | $1,470 |
| 4 Bedroom | -$70 | $1,700 | $1,630 |
Affordability — Las Cruces, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $207,000 |
| Median Household Income | $33,000 |