Melrose, NM 88124 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Melrose, NM—88124

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$164,000

N/A

Household Income

$51,700

8.3% YoY Growth

Days on Market

105

51.0% Longer YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Melrose, NM

Melrose, NM lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	N/A	N/A
Single Family	N/A	N/A
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Melrose, NM

Melrose, NM lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	N/A	N/A
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

4.4%

2 Bedrooms

50.0%

3 Bedrooms

42.6%

4 Bedrooms

2.9%

Property Listings — Melrose, NM

As of Dec '25, Realtor.com reports that the median days on market for a home in Melrose, NM is 88. This is a increase of 70.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$164,000	42.0%
Listing Count	7	143.0%
Listings as % of Homes	N/A	143.0%
Days on Market	105	51.0%

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Demographics — Melrose, NM

As of the latest ACS Survey released in 2023, Melrose, NM has a population of 907, which has decreased by -12.5% over the past 5 years. Melrose, NM is a moderately popular place for families, as children make up 20.4% of the population. The area has a poorly educated workforce, with 21.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	907	-12.5%
% Under 18	20.4%	-1.0%
% Seniors	23.9%	0.4%
% WFH	6.0%	15.4%
% w/ College Degree	21.6%	-11.5%

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As of the latest ACS Survey released in 2023, Melrose, NM is a predominantly white area, with 79.7% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Melrose, NM is hispanic, making up 14.6% of the population. Foreign-born residents account for 4.7% of the population in Melrose, NM, and this percentage has increased by 30.6% 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	79.7%	-5.2%
% Black	0.0%	N/A
% Hispanic	14.6%	23.7%
% Asian	0.0%	N/A
% Foreign Born	4.7%	30.6%

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Mortgage and Risk — Melrose, NM

According to HUD data as of 2023, there were 12 mortgage originations in Melrose, NM, of which 42.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Melrose, NM. Investor activity is low, as 0.0% 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	12
% Conventional Loans	42.0%
% Government Loans	58.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Melrose, NM

Melrose, NM lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	2
Total Units Section 8	2
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$770
2 Bedroom	N/A	N/A	$930
3 Bedroom	N/A	N/A	$1,200
4 Bedroom	N/A	N/A	$1,580

Melrose, NM—88124

Key Metrics at a Glance

Home Price Trends — Melrose, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Melrose, NM

% of Rental Stock

Property Listings — Melrose, NM

Demographics — Melrose, NM

Race and Ethnicity

Mortgage and Risk — Melrose, NM

Mortgages

Rentals and Section 8 — Melrose, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Melrose, NM

Home Price to Income Ratio

Melrose, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Floyd, NM

Clovis, NM

Wheatland, NM

Portales, NM

Pleasant Hill, NM

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	N/A
Median Home Price	N/A
Median Household Income	$51,700

Melrose, NM—88124

Key Metrics at a Glance

Home Price Trends — Melrose, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Melrose, NM

% of Rental Stock

Property Listings — Melrose, NM

Demographics — Melrose, NM

Race and Ethnicity

Mortgage and Risk — Melrose, NM

Mortgages

Rentals and Section 8 — Melrose, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Melrose, NM

Home Price to Income Ratio

Melrose, NM — ZIP Code Boundary Map

Nearby ZIP Codes

Floyd, NM

Clovis, NM

Wheatland, NM

Portales, NM

Pleasant Hill, NM

Frequently Asked Questions

What is the average home price in Melrose, NM 88124?

How have home prices in Melrose, NM 88124 changed over the past year?

What is the home price projection for Melrose, NM 88124?

What are the demographics of Melrose, NM 88124?

How long does it take homes to sell in Melrose, NM 88124?

What is the average rent price in Melrose, NM 88124?