Santa Teresa, NM—88008
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Teresa, NM
As of Oct '25, the median home price in Santa Teresa, NM is $310,000, with a year-over-year change of 0.6%. This indicates that home prices in Santa Teresa, NM are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $310,000 | 0.6% |
| Single Family | $310,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $223,000 | -0.4% |
3 Bed | $292,000 | 0.3% |
4 Bed | $328,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Santa Teresa, NM
As of July '25, Rentcast reports the average rent in Santa Teresa, NM is $1,570, with a year-over-year rent change of -14.2%. Per bedroom, the median rent as of July '25 in Santa Teresa, NM is 1-bedrooms: $916, 2-bedrooms: $1,340, 3-bedrooms: $1,610, 4-bedrooms: $1,880. The most common rental property sizes in Santa Teresa, NM are 3-bedroom and 2-bedroom, accounting for 47.0% and 30.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $874 | $916 |
| 2 Bed Rent | $1,350 | $1,340 |
| 3 Bed Rent | $1,700 | $1,610 |
| 4 Bed Rent | $1,800 | $1,880 |
% of Rental Stock
Property Listings — Santa Teresa, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Santa Teresa, NM is 89. This is a decrease of -14.0% 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 3.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $352,000 | 2.0% |
Listing Count | 121 | -17.0% |
| Listings as % of Homes | 2.2% | -17.0% |
Days on Market | 89 | -14.0% |
Demographics — Santa Teresa, NM
As of the latest ACS Survey released in 2023, Santa Teresa, NM has a population of 11,800, which has increased by 41.2% over the past 5 years. Santa Teresa, NM is a popular place for families, as children make up 28.1% of the population. The area has a moderately educated workforce, with 38.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,800 | 41.2% |
% Under 18 | 28.1% | -18.1% |
% Seniors | 9.7% | 11.5% |
% WFH | 4.0% | 37.9% |
% w/ College Degree | 38.8% | 21.2% |
As of the latest ACS Survey released in 2023, Santa Teresa, NM is a predominantly hispanic area, with 85.7% of the population identifying as hispanic. The hispanic population has grown by 6.3% in the last 5 years. The second most common race or ethnicity in Santa Teresa, NM is white, making up 11.8% of the population. Foreign-born residents account for 19.0% of the population in Santa Teresa, NM, and this percentage has increased by 15.2% 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 | 11.8% | -34.1% |
% Black | 1.0% | 100.0% |
% Hispanic | 85.7% | 6.3% |
% Asian | 0.4% | -20.0% |
% Foreign Born | 19.0% | 15.2% |
Mortgage and Risk — Santa Teresa, NM
According to HUD data as of 2023, there were 243 mortgage originations in Santa Teresa, NM, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 59.0% above 90% LTV (very high). This implies large mortgage risk in Santa Teresa, NM. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 243 |
% Conventional Loans | 47.0% |
% Government Loans | 53.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Santa Teresa, NM
As of 2024, the percent of homes in Santa Teresa, NM under the Section 8 program is 5.5%. 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 units appear to be good home sizes to consider for Section 8 housing in Santa Teresa, NM, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 44 |
Total Units Section 8 | 43 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $146 | $874 | $1,020 |
| 2 Bedroom | -$220 | $1,350 | $1,130 |
| 3 Bedroom | -$130 | $1,700 | $1,570 |
| 4 Bedroom | -$60 | $1,800 | $1,740 |
Affordability — Santa Teresa, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $310,000 |
| Median Household Income | $69,500 |