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  4. /Santa Teresa, NM - 88008

Santa Teresa, NM—88008

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$316,000
0.3% YoY Growth
Household Income
$69,500
35.8% YoY Growth
Days on Market
68
45.0% Shorter YoY
Home Price Forecast
1.2%
Median Rent
$1,700
14.2% YoY Growth
1-Bed Rent
$874
N/A
2-Bed Rent
$1,350
0.7% YoY Growth
3-Bed Rent
$1,700
14.8% YoY Growth

Other Zip Codes in Santa Teresa, NM

8701288063
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Santa Teresa, NM

As of May '26, the median home price in Santa Teresa, NM is $316,000, with a year-over-year change of -0.3%. This indicates that home prices in Santa Teresa, NM are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$316,000-0.3%
Single Family $317,000-0.6%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$228,0000.9%
    3 Bed
    		$298,0000.0%
    4 Bed
    		$335,000-0.9%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    3.2%
    2 Bedrooms
    13.2%
    3 Bedrooms
    47.4%
    4 Bedrooms
    34.7%
    5+ Bedrooms
    0.7%

    Rental Trends — Santa Teresa, NM

    As of July '25, Rentcast reports the average rent in Santa Teresa, NM is $1,570, with a year-over-year rent change of -14.2%. Per bedroom, the median rent as of July '25 in Santa Teresa, NM is 1-bedrooms: $916, 2-bedrooms: $1,340, 3-bedrooms: $1,610, 4-bedrooms: $1,880. The most common rental property sizes in Santa Teresa, NM are 3-bedroom and 2-bedroom, accounting for 47.0% and 30.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,700$1,570
    Studio Rent N/AN/A
    1 Bed Rent $874$916
    2 Bed Rent $1,350$1,340
    3 Bed Rent $1,700$1,610
    4 Bed Rent $1,800$1,880
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    % of Rental Stock

    1 Bedroom
    19.9%
    2 Bedrooms
    30.7%
    3 Bedrooms
    47.0%
    4 Bedrooms
    2.4%

    Property Listings — Santa Teresa, NM

    As of May '26, Realtor.com reports that the median days on market for a home in Santa Teresa, NM is 68. This is a decrease of -45.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$370,0006.0%
    Listing Count
    		348254.0%
    Listings as % of Homes2.2%254.0%
    Days on Market
    		68-45.0%
    Loading chart...

    Demographics — Santa Teresa, NM

    As of the latest ACS Survey released in 2023, Santa Teresa, NM has a population of 11,800, which has increased by 41.2% over the past 5 years. Santa Teresa, NM is a popular place for families, as children make up 28.1% of the population. The area has a moderately educated workforce, with 38.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		11,80041.2%
    % Under 18
    		28.1%-18.1%
    % Seniors
    		9.7%11.5%
    % WFH
    		4.0%37.9%
    % w/ College Degree
    		38.8%21.2%
    Loading chart...

    As of the latest ACS Survey released in 2023, Santa Teresa, NM is a predominantly hispanic area, with 85.7% of the population identifying as hispanic. The hispanic population has grown by 6.3% in the last 5 years. The second most common race or ethnicity in Santa Teresa, NM is white, making up 11.8% of the population. Foreign-born residents account for 19.0% of the population in Santa Teresa, NM, and this percentage has increased by 15.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		11.8%-34.1%
    % Black
    		1.0%100.0%
    % Hispanic
    		85.7%6.3%
    % Asian
    		0.4%-20.0%
    % Foreign Born
    		19.0%15.2%
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    Mortgage and Risk — Santa Teresa, NM

    According to HUD data as of 2023, there were 243 mortgage originations in Santa Teresa, NM, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 59.0% above 90% LTV (very high). This implies large mortgage risk in Santa Teresa, NM. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		243
    % Conventional Loans
    		47.0%
    % Government Loans
    		53.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Santa Teresa, NM

    As of 2024, the percent of homes in Santa Teresa, NM under the Section 8 program is 5.5%. 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 units appear to be good home sizes to consider for Section 8 housing in Santa Teresa, NM, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		44
    Total Units Section 8
    		43
    % Rentals under Section 8
    		5.5%
    % Occupied Section 8
    		70.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$146$874$1,020
    2 Bedroom-$220$1,350$1,130
    3 Bedroom-$130$1,700$1,570
    4 Bedroom-$60$1,800$1,740

    Affordability — Santa Teresa, NM

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.2
    Median Home Price$316,000
    Median Household Income$69,500

    Santa Teresa, NM — ZIP Code Boundary Map

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    Frequently Asked Questions