Cedar Crest, NM—87008
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cedar Crest, NM
As of Nov '25, the median home price in Cedar Crest, NM is $451,000, with a year-over-year change of 2.9%. This indicates that home prices in Cedar Crest, NM are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $451,000 | 2.9% |
| Single Family | $451,000 | 3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $339,000 | 2.1% |
3 Bed | $447,000 | 3.0% |
4 Bed | $552,000 | 3.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cedar Crest, NM
As of July '25, Rentcast reports the average rent in Cedar Crest, NM is $2,500, with a year-over-year rent change of -7.4%. Per bedroom, the median rent as of July '25 in Cedar Crest, NM is 3-bedrooms: $2,500. The most common rental property sizes in Cedar Crest, NM are 2-bedroom and 3-bedroom, accounting for 61.8% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,500 | $2,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cedar Crest, NM
As of Nov '25, Realtor.com reports that the median days on market for a home in Cedar Crest, NM is 75. This is a increase of 4.0% 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 | $470,000 | -5.0% |
Listing Count | 18 | 25.0% |
| Listings as % of Homes | 0.7% | 25.0% |
Days on Market | 75 | 4.0% |
Demographics — Cedar Crest, NM
As of the latest ACS Survey released in 2023, Cedar Crest, NM has a population of 2,340, which has decreased by -8.3% over the past 5 years. Cedar Crest, NM is a moderately popular place for families, as children make up 17.4% of the population. The area has a highly educated workforce, with 53.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,340 | -8.3% |
% Under 18 | 17.4% | -29.3% |
% Seniors | 24.5% | -10.9% |
% WFH | 12.7% | 296.9% |
% w/ College Degree | 53.2% | -4.8% |
As of the latest ACS Survey released in 2023, Cedar Crest, NM is a predominantly white area, with 78.7% of the population identifying as white. The white population has grown by 1.2% in the last 5 years. The second most common race or ethnicity in Cedar Crest, NM is hispanic, making up 16.0% of the population. Foreign-born residents account for 1.8% of the population in Cedar Crest, NM, and this percentage has increased by 20.0% 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 | 78.7% | 1.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 16.0% | 41.6% |
% Asian | 0.5% | -16.7% |
% Foreign Born | 1.8% | 20.0% |
Mortgage and Risk — Cedar Crest, NM
According to HUD data as of 2023, there were 41 mortgage originations in Cedar Crest, NM, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Cedar Crest, NM. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 41 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Rentals and Section 8 — Cedar Crest, NM
Cedar Crest, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,400 |
| 2 Bedroom | N/A | N/A | $1,720 |
| 3 Bedroom | -$90 | $2,500 | $2,410 |
| 4 Bedroom | N/A | N/A | $2,840 |
Affordability — Cedar Crest, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $451,000 |
| Median Household Income | $109,000 |