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  1. Home
  2. /Browse ZIP Codes
  3. /New Mexico
  4. /Los Lunas, NM - 87031

Los Lunas, NM—87031

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$332,000
2.7% YoY Growth
Household Income
$61,900
28.8% YoY Growth
Days on Market
58
1.0% Shorter YoY
Home Price Forecast
1.3%
Median Rent
$2,050
2.0% YoY Growth
1-Bed Rent
$900
102.7% YoY Growth
2-Bed Rent
$1,800
28.1% YoY Growth
3-Bed Rent
$2,000
0.5% YoY Growth

Other Zip Codes in Los Lunas, NM

87042
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Los Lunas, NM

As of May '26, the median home price in Los Lunas, NM is $332,000, with a year-over-year change of 2.7%. This indicates that home prices in Los Lunas, NM are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$332,0002.7%
Single Family $333,0003.1%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$283,0002.2%
    3 Bed
    		$316,0002.9%
    4 Bed
    		$379,0002.2%
    5 Bed $430,1932.2%
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    % of Housing Stock

    Studio
    0.7%
    1 Bedroom
    1.8%
    2 Bedrooms
    20.6%
    3 Bedrooms
    57.6%
    4 Bedrooms
    16.0%
    5+ Bedrooms
    3.2%

    Rental Trends — Los Lunas, NM

    As of July '25, Rentcast reports the average rent in Los Lunas, NM is $2,040, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Los Lunas, NM is 1-bedrooms: $1,200, 2-bedrooms: $1,870, 3-bedrooms: $1,990, 4-bedrooms: $2,200. The most common rental property sizes in Los Lunas, NM are 3-bedroom and 2-bedroom, accounting for 45.1% and 36.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,050$2,040
    Studio Rent N/AN/A
    1 Bed Rent $900$1,200
    2 Bed Rent $1,800$1,870
    3 Bed Rent $2,000$1,990
    4 Bed Rent $2,200$2,200
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    % of Rental Stock

    Studio
    1.5%
    1 Bedroom
    2.4%
    2 Bedrooms
    36.0%
    3 Bedrooms
    45.1%
    4 Bedrooms
    13.2%
    5+ Bedrooms
    1.9%

    Property Listings — Los Lunas, NM

    As of May '26, Realtor.com reports that the median days on market for a home in Los Lunas, NM is 58. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$380,0000.0%
    Listing Count
    		2151.0%
    Listings as % of Homes1.1%1.0%
    Days on Market
    		58-1.0%
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    Demographics — Los Lunas, NM

    As of the latest ACS Survey released in 2023, Los Lunas, NM has a population of 46,200, which has increased by 4.0% over the past 5 years. Los Lunas, NM is a moderately popular place for families, as children make up 25.0% of the population. The area has a poorly educated workforce, with 21.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		46,2004.0%
    % Under 18
    		25.0%-1.2%
    % Seniors
    		16.5%14.6%
    % WFH
    		8.7%148.6%
    % w/ College Degree
    		21.4%30.5%
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    As of the latest ACS Survey released in 2023, Los Lunas, NM is a predominantly hispanic area, with 63.2% of the population identifying as hispanic. The hispanic population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Los Lunas, NM is white, making up 30.2% of the population. Foreign-born residents account for 8.2% of the population in Los Lunas, NM, and this percentage has decreased by 15.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		30.2%-2.3%
    % Black
    		1.6%14.3%
    % Hispanic
    		63.2%-1.2%
    % Asian
    		0.7%-22.2%
    % Foreign Born
    		8.2%-15.5%
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    Mortgage and Risk — Los Lunas, NM

    According to HUD data as of 2023, there were 1105 mortgage originations in Los Lunas, NM, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Los Lunas, NM. Investor activity is low, as 0.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		1,105
    % Conventional Loans
    		55.0%
    % Government Loans
    		45.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		10.0%
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    Rentals and Section 8 — Los Lunas, NM

    As of 2024, the percent of homes in Los Lunas, NM under the Section 8 program is 7.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Los Lunas, NM, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		206
    Total Units Section 8
    		206
    % Rentals under Section 8
    		7.0%
    % Occupied Section 8
    		65.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$250$900$1,150
    2 Bedroom-$390$1,800$1,410
    3 Bedroom-$20$2,000$1,980
    4 Bedroom$140$2,200$2,340

    Affordability — Los Lunas, NM

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.8
    Median Home Price$332,000
    Median Household Income$61,900

    Los Lunas, NM — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Los Lunas, NM

    87042

    Isleta Village Proper

    87022

    Bosque Farms, NM

    87068

    Belen, NM

    87002

    Jarales, NM

    87023

    Frequently Asked Questions