Las Cruces, NM—88007
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 $326,000, with a year-over-year change of 0.0%. This indicates that home prices in Las Cruces, NM are flat. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $326,000 | 0.0% |
| Single Family | $327,000 | -0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $290,000 | -0.7% |
3 Bed | $313,000 | -0.6% |
4 Bed | $388,000 | 1.0% |
| 5 Bed | $533,000 | 2.7% |
% of Housing Stock
Rental Trends — Las Cruces, NM
As of July '25, Rentcast reports the average rent in Las Cruces, NM is $1,600, with a year-over-year rent change of 9.6%. Per bedroom, the median rent as of July '25 in Las Cruces, NM is studios: $600, 2-bedrooms: $788, 3-bedrooms: $1,680, 4-bedrooms: $2,180. The most common rental property sizes in Las Cruces, NM are 2-bedroom and 3-bedroom, accounting for 44.7% and 38.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,600 |
| Studio Rent | $600 | $600 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $750 | $788 |
| 3 Bed Rent | $1,550 | $1,680 |
| 4 Bed Rent | $2,000 | $2,180 |
% 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 79. This is a increase of 27.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $496,000 | 7.0% |
Listing Count | 133 | 20.0% |
| Listings as % of Homes | 0.7% | 20.0% |
Days on Market | 79 | 27.0% |
Demographics — Las Cruces, NM
As of the latest ACS Survey released in 2023, Las Cruces, NM has a population of 25,800, which has increased by 10.3% over the past 5 years. Las Cruces, NM is a moderately popular place for families, as children make up 24.5% of the population. The area has a moderately educated workforce, with 29.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,800 | 10.3% |
% Under 18 | 24.5% | 9.4% |
% Seniors | 20.3% | 4.6% |
% WFH | 10.1% | 50.7% |
% w/ College Degree | 29.1% | -4.9% |
As of the latest ACS Survey released in 2023, Las Cruces, NM is a predominantly hispanic area, with 61.2% of the population identifying as hispanic. The hispanic population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Las Cruces, NM is white, making up 33.7% of the population. Foreign-born residents account for 9.9% of the population in Las Cruces, NM, and this percentage has decreased by 28.8% 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 | 33.7% | -8.9% |
% Black | 1.6% | 33.3% |
% Hispanic | 61.2% | 0.7% |
% Asian | 1.3% | 333.3% |
% Foreign Born | 9.9% | -28.8% |
Mortgage and Risk — Las Cruces, NM
According to HUD data as of 2023, there were 442 mortgage originations in Las Cruces, NM, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Las Cruces, NM. Investor activity is low, as 2.0% 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 | 442 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
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 | 168 |
Total Units Section 8 | 168 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 78.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $850 |
| 2 Bedroom | $190 | $750 | $940 |
| 3 Bedroom | -$240 | $1,550 | $1,310 |
| 4 Bedroom | -$550 | $2,000 | $1,450 |
Affordability — Las Cruces, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $326,000 |
| Median Household Income | $65,000 |