Corrales, NM 87048 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Corrales, NM—87048

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$692,000

3.2% YoY Growth

Household Income

$113,000

42.4% YoY Growth

Days on Market

10.0% Longer YoY

Home Price Forecast

2.3%

Median Rent

$1,900

23.8% YoY Growth

1-Bed Rent

$1,900

15.9% YoY Growth

2-Bed Rent

$1,740

N/A

3-Bed Rent

N/A

Home Price Trends — Corrales, NM

As of Dec '25, the median home price in Corrales, NM is $692,000, with a year-over-year change of 3.2%. This indicates that home prices in Corrales, NM are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$692,000	3.2%
Single Family	$695,000	3.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Corrales, NM

As of July '25, Rentcast reports the average rent in Corrales, NM is $1,790, with a year-over-year rent change of -23.8%. Per bedroom, the median rent as of July '25 in Corrales, NM is studios: $1,020, 1-bedrooms: $1,800, 2-bedrooms: $2,120, 4-bedrooms: $2,600. The most common rental property sizes in Corrales, NM are 3-bedroom and 2-bedroom, accounting for 49.0% and 25.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,900	$1,790
Studio Rent	$975	$1,020
1 Bed Rent	$1,900	$1,800
2 Bed Rent	$1,740	$2,120
3 Bed Rent	N/A	N/A
4 Bed Rent	$2,600	$2,600

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% of Rental Stock

Studio

13.9%

1 Bedroom

3.2%

2 Bedrooms

25.8%

3 Bedrooms

49.0%

4 Bedrooms

4.8%

5+ Bedrooms

3.2%

Property Listings — Corrales, NM

As of Dec '25, Realtor.com reports that the median days on market for a home in Corrales, NM is 70. This is a increase of 19.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$987,000	9.0%
Listing Count	41	2.0%
Listings as % of Homes	0.7%	2.0%
Days on Market	84	10.0%

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Demographics — Corrales, NM

As of the latest ACS Survey released in 2023, Corrales, NM has a population of 9,170, which has increased by 1.1% over the past 5 years. Corrales, NM is a moderately popular place for families, as children make up 15.7% of the population. The area has a highly educated workforce, with 50.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	9,170	1.1%
% Under 18	15.7%	-1.3%
% Seniors	34.9%	24.2%
% WFH	23.9%	99.2%
% w/ College Degree	50.6%	-13.5%

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As of the latest ACS Survey released in 2023, Corrales, NM is a predominantly white area, with 62.9% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Corrales, NM is hispanic, making up 30.4% of the population. Foreign-born residents account for 5.9% of the population in Corrales, NM, and this percentage has increased by 1.7% 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	62.9%	-5.1%
% Black	1.1%	-15.4%
% Hispanic	30.4%	9.7%
% Asian	1.0%	-56.5%
% Foreign Born	5.9%	1.7%

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Mortgage and Risk — Corrales, NM

According to HUD data as of 2023, there were 141 mortgage originations in Corrales, NM, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Corrales, NM. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	141
% Conventional Loans	95.0%
% Government Loans	5.0%
% Investor Loans	3.0%
% Second Loans	2.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Corrales, NM

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

Section 8 Market Size

Total Units under HUD	N/A
Total Units Section 8	N/A
% 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	-$610	$1,900	$1,290
2 Bedroom	-$160	$1,740	$1,580
3 Bedroom	N/A	N/A	$2,210
4 Bedroom	$20	$2,600	$2,620

Corrales, NM—87048

Key Metrics at a Glance

Home Price Trends — Corrales, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Corrales, NM

% of Rental Stock

Property Listings — Corrales, NM

Demographics — Corrales, NM

Race and Ethnicity

Mortgage and Risk — Corrales, NM

Mortgages

Rentals and Section 8 — Corrales, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Corrales, NM

Home Price to Income Ratio

Corrales, NM — ZIP Code Boundary Map

Nearby ZIP Codes

West Albuquerque, Albuquerque, NM

Westside, Albuquerque, NM

North Albuquerque, Albuquerque, NM

Far Northeast, Albuquerque, NM

Rio Rancho, NM

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.5
Median Home Price	$692,000
Median Household Income	$113,000

Corrales, NM—87048

Key Metrics at a Glance

Home Price Trends — Corrales, NM

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Corrales, NM

% of Rental Stock

Property Listings — Corrales, NM

Demographics — Corrales, NM

Race and Ethnicity

Mortgage and Risk — Corrales, NM

Mortgages

Rentals and Section 8 — Corrales, NM

Section 8 Market Size

Section 8 Opportunity

Affordability — Corrales, NM

Home Price to Income Ratio

Corrales, NM — ZIP Code Boundary Map

Nearby ZIP Codes

West Albuquerque, Albuquerque, NM

Westside, Albuquerque, NM

North Albuquerque, Albuquerque, NM

Far Northeast, Albuquerque, NM

Rio Rancho, NM

Frequently Asked Questions

What is the average home price in Corrales, NM 87048?

How have home prices in Corrales, NM 87048 changed over the past year?

What is the home price projection for Corrales, NM 87048?

What are the demographics of Corrales, NM 87048?

How long does it take homes to sell in Corrales, NM 87048?

What is the average rent price in Corrales, NM 87048?