Melrose, NM—88124

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$159,000
N/A
Median Household Income
$51,700
8.3% 5-Year Growth
Days on Market
94
135.0% Longer than last year
Home Price Forecast
N/A
Median 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

Property Listings — Melrose, NM

As of Oct '25, Realtor.com reports that the median days on market for a home in Melrose, NM is 94. This is a increase of 135.0% 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.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$159,000-26.0%
Listing Count
6143.0%
Listings as % of HomesN/A143.0%
Days on Market
94135.0%
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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.

MetricLatest CensusYoY % 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

MetricLatest Census5-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

MetricZip 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%

Loan Activity

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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 SizeHUD PremiumMarket RentMax HUD Rent
1 BedroomN/AN/A$770
2 BedroomN/AN/A$930
3 BedroomN/AN/A$1,200
4 BedroomN/AN/A$1,580

Affordability — Melrose, NM

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income RatioN/A
Median Home PriceN/A
Median Household Income$51,700

Melrose, NM — ZIP Code Boundary Map

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Nearby ZIP Codes

Floyd, NM

88118

Clovis, NM

88101

Wheatland, NM

88120

Portales, NM

88130

Pleasant Hill, NM

88135

Frequently Asked Questions