Clovis, NM—88101
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Clovis, NM
As of Oct '25, the median home price in Clovis, NM is $154,000, with a year-over-year change of -2.4%. This indicates that home prices in Clovis, NM are decreasing. According to Zillow, the 1-year price projection is -3.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $154,000 | -2.4% |
| Single Family | $154,000 | -3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $111,000 | 0.9% |
3 Bed | $204,000 | 1.0% |
4 Bed | $277,000 | 1.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Clovis, NM
As of July '25, Rentcast reports the average rent in Clovis, NM is $1,240, with a year-over-year rent change of -3.9%. Per bedroom, the median rent as of July '25 in Clovis, NM is studios: $1,100, 1-bedrooms: $798, 2-bedrooms: $1,030, 3-bedrooms: $1,410, 4-bedrooms: $1,920. The most common rental property sizes in Clovis, NM are 3-bedroom and 2-bedroom, accounting for 36.6% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,240 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $750 | $798 |
| 2 Bed Rent | $1,100 | $1,030 |
| 3 Bed Rent | $1,400 | $1,410 |
| 4 Bed Rent | $1,900 | $1,920 |
% of Rental Stock
Property Listings — Clovis, NM
As of Oct '25, Realtor.com reports that the median days on market for a home in Clovis, NM is 70. This is a increase of 24.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $230,000 | 3.0% |
Listing Count | 294 | 38.0% |
| Listings as % of Homes | 0.6% | 38.0% |
Days on Market | 70 | 24.0% |
Demographics — Clovis, NM
As of the latest ACS Survey released in 2023, Clovis, NM has a population of 45,200, which has decreased by -3.9% over the past 5 years. Clovis, NM is a popular place for families, as children make up 27.0% of the population. The area has a poorly educated workforce, with 21.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,200 | -3.9% |
% Under 18 | 27.0% | 0.7% |
% Seniors | 12.2% | 3.4% |
% WFH | 3.0% | 172.7% |
% w/ College Degree | 21.3% | 8.1% |
As of the latest ACS Survey released in 2023, Clovis, NM is a predominantly hispanic area, with 46.7% of the population identifying as hispanic. The hispanic population has grown by 11.2% in the last 5 years. The second most common race or ethnicity in Clovis, NM is white, making up 42.2% of the population. Foreign-born residents account for 8.0% of the population in Clovis, NM, and this percentage has decreased by 21.6% 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 | 42.2% | -11.3% |
% Black | 5.9% | 9.3% |
% Hispanic | 46.7% | 11.2% |
% Asian | 1.6% | -5.9% |
% Foreign Born | 8.0% | -21.6% |
Mortgage and Risk — Clovis, NM
According to HUD data as of 2023, there were 623 mortgage originations in Clovis, NM, of which 31.0% of loans were conventional mortgages. The average loan-to-value was 86.0%, with 65.0% above 90% LTV (very high). This implies large mortgage risk in Clovis, NM. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 623 |
% Conventional Loans | 31.0% |
% Government Loans | 69.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Clovis, NM
Clovis, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,064 |
Total Units Section 8 | 806 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 76.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $750 | $810 |
| 2 Bedroom | -$120 | $1,100 | $980 |
| 3 Bedroom | -$150 | $1,400 | $1,250 |
| 4 Bedroom | -$250 | $1,900 | $1,650 |
Affordability — Clovis, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $154,000 |
| Median Household Income | $55,300 |