Santa Teresa, NM—88063
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 $247,000, with a year-over-year change of -1.7%. This indicates that home prices in Santa Teresa, NM are decreasing. 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 | $247,000 | -1.7% |
| Single Family | $247,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | -3.8% |
3 Bed | $225,000 | -1.7% |
4 Bed | $307,000 | -0.3% |
| 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 $1,770, with a year-over-year rent change of 12.0%. Per bedroom, the median rent as of July '25 in Santa Teresa, NM is studios: $550, 2-bedrooms: $985, 3-bedrooms: $1,550, 4-bedrooms: $1,900. The most common rental property sizes in Santa Teresa, NM are 3-bedroom and 2-bedroom, accounting for 54.3% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,770 |
| Studio Rent | $550 | $550 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $985 | $985 |
| 3 Bed Rent | $1,450 | $1,550 |
| 4 Bed Rent | $2,100 | $1,900 |
% 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 58. This is a decrease of -6.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $399,000 | -9.0% |
Listing Count | 101 | 9.0% |
| Listings as % of Homes | 1.6% | 9.0% |
Days on Market | 58 | -6.0% |
Demographics — Santa Teresa, NM
As of the latest ACS Survey released in 2023, Santa Teresa, NM has a population of 11,300, which has decreased by -19.2% over the past 5 years. Santa Teresa, NM is a popular place for families, as children make up 26.5% of the population. The area has a poorly educated workforce, with 13.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,300 | -19.2% |
% Under 18 | 26.5% | -14.8% |
% Seniors | 14.8% | 23.3% |
% WFH | 5.2% | 20.9% |
% w/ College Degree | 13.1% | 31.0% |
As of the latest ACS Survey released in 2023, Santa Teresa, NM is a predominantly hispanic area, with 95.6% of the population identifying as hispanic. The hispanic population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Santa Teresa, NM is white, making up 4.2% of the population. Foreign-born residents account for 29.4% of the population in Santa Teresa, NM, and this percentage has decreased by 23.4% 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 | 4.2% | 75.0% |
% Black | 0.1% | 0.0% |
% Hispanic | 95.6% | -1.8% |
% Asian | 0.0% | N/A |
% Foreign Born | 29.4% | -23.4% |
Mortgage and Risk — Santa Teresa, NM
According to HUD data as of 2023, there were 78 mortgage originations in Santa Teresa, NM, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Santa Teresa, NM. Investor activity is low, as 6.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 78 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Santa Teresa, NM
Santa Teresa, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 112 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $890 |
| 2 Bedroom | $55 | $985 | $1,040 |
| 3 Bedroom | -$10 | $1,450 | $1,440 |
| 4 Bedroom | -$340 | $2,100 | $1,760 |
Affordability — Santa Teresa, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $247,000 |
| Median Household Income | $35,900 |