Las Cruces, NM—88011
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 $354,000, 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 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $354,000 | 0.2% |
| Single Family | $364,000 | 0.0% |
| Condos | $194,000 | -4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $164,000 | -4.1% |
2 Bed | $235,000 | -2.5% |
3 Bed | $341,000 | 0.0% |
4 Bed | $431,000 | 0.2% |
| 5 Bed | $535,000 | 1.3% |
% of Housing Stock
Rental Trends — Las Cruces, NM
As of July '25, Rentcast reports the average rent in Las Cruces, NM is $1,740, with a year-over-year rent change of 0.6%. Per bedroom, the median rent as of July '25 in Las Cruces, NM is 1-bedrooms: $1,150, 2-bedrooms: $1,380, 3-bedrooms: $1,990, 4-bedrooms: $2,350. The most common rental property sizes in Las Cruces, NM are 2-bedroom and 1-bedroom, accounting for 38.4% and 27.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $1,150 |
| 2 Bed Rent | $1,350 | $1,380 |
| 3 Bed Rent | $1,950 | $1,990 |
| 4 Bed Rent | $2,100 | $2,350 |
% 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 72. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $440,000 | 2.0% |
Listing Count | 242 | 15.0% |
| Listings as % of Homes | 0.9% | 15.0% |
Days on Market | 72 | 0.0% |
Demographics — Las Cruces, NM
As of the latest ACS Survey released in 2023, Las Cruces, NM has a population of 31,100, which has remained stable by -0.2% over the past 5 years. Las Cruces, NM is a moderately popular place for families, as children make up 18.1% of the population. The area has a highly educated workforce, with 55.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | -0.2% |
% Under 18 | 18.1% | -17.4% |
% Seniors | 26.0% | 19.8% |
% WFH | 15.6% | 183.6% |
% w/ College Degree | 55.3% | 10.4% |
As of the latest ACS Survey released in 2023, Las Cruces, NM is a predominantly white area, with 51.8% of the population identifying as white. The white population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in Las Cruces, NM is hispanic, making up 40.4% of the population. Foreign-born residents account for 10.6% of the population in Las Cruces, NM, and this percentage has decreased by 36.1% 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 | 51.8% | 3.8% |
% Black | 2.2% | -47.6% |
% Hispanic | 40.4% | 0.5% |
% Asian | 3.1% | 6.9% |
% Foreign Born | 10.6% | -36.1% |
Mortgage and Risk — Las Cruces, NM
According to HUD data as of 2023, there were 565 mortgage originations in Las Cruces, NM, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 30.0% 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. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 565 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
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 2.5%. 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 Las Cruces, 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 | 123 |
Total Units Section 8 | 123 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $1,000 | $1,070 |
| 2 Bedroom | -$160 | $1,350 | $1,190 |
| 3 Bedroom | -$300 | $1,950 | $1,650 |
| 4 Bedroom | -$260 | $2,100 | $1,840 |
Affordability — Las Cruces, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $354,000 |
| Median Household Income | $75,100 |