Las Cruces, NM—87937
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Las Cruces, NM
As of Nov '25, the median home price in Las Cruces, NM is $167,000, with a year-over-year change of -8.6%. This indicates that home prices in Las Cruces, NM are decreasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $167,000 | -8.6% |
| Single Family | $167,000 | -9.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $119,000 | -13.8% |
3 Bed | $177,000 | -7.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Las Cruces, NM
Las Cruces, 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 |
% of Rental Stock
Property Listings — Las Cruces, NM
As of Nov '25, Realtor.com reports that the median days on market for a home in Las Cruces, NM is 73. This is a decrease of -60.0% from last year, suggesting that homes are sitting on the market shorter 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 | $100,000 | -63.0% |
Listing Count | 3 | -50.0% |
| Listings as % of Homes | 0.1% | -50.0% |
Days on Market | 73 | -60.0% |
Demographics — Las Cruces, NM
As of the latest ACS Survey released in 2023, Las Cruces, NM has a population of 3,340, which has increased by 22.6% over the past 5 years. Las Cruces, NM is a popular place for families, as children make up 28.1% of the population. The area has a poorly educated workforce, with 7.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,340 | 22.6% |
% Under 18 | 28.1% | -17.1% |
% Seniors | 12.7% | -18.6% |
% WFH | 1.2% | -55.6% |
% w/ College Degree | 7.1% | -53.3% |
As of the latest ACS Survey released in 2023, Las Cruces, NM is a predominantly hispanic area, with 89.3% of the population identifying as hispanic. The hispanic population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in Las Cruces, NM is white, making up 10.7% of the population. Foreign-born residents account for 28.5% of the population in Las Cruces, NM, and this percentage has decreased by 8.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 10.7% | -20.1% |
% Black | 0.0% | -100.0% |
% Hispanic | 89.3% | 3.8% |
% Asian | 0.0% | N/A |
% Foreign Born | 28.5% | -8.1% |
Mortgage and Risk — Las Cruces, NM
According to HUD data as of 2023, there were 6 mortgage originations in Las Cruces, NM, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 98.0%, with 100.0% above 90% LTV (very high). This implies large mortgage risk in Las Cruces, NM. Investor activity is low, as 0.0% of loans were by investors. 33.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 6 |
% Conventional Loans | 50.0% |
% Government Loans | 50.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 33.0% |
Rentals and Section 8 — Las Cruces, NM
Las Cruces, NM lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 36 |
Total Units Section 8 | 36 |
% Rentals under Section 8 | 13.5% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,300 |
| 4 Bedroom | N/A | N/A | $1,440 |
Affordability — Las Cruces, NM
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $167,000 |
| Median Household Income | $39,200 |