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Santa Teresa, NM—88063

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$251,000
1.9% YoY Growth
Household Income
$35,900
44.5% YoY Growth
Days on Market
108
20.0% Longer YoY
Home Price Forecast
2.6%
Median Rent
$1,750
12.0% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
$985
N/A
3-Bed Rent
$1,450
7.2% YoY Growth

Other Zip Codes in Santa Teresa, NM

8701288008
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Santa Teresa, NM

As of Dec '25, the median home price in Santa Teresa, NM is $251,000, with a year-over-year change of -1.9%. This indicates that home prices in Santa Teresa, 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 TypeMedian Home ValueYoY % Change
All Homes
$251,000-1.9%
Single Family $251,000-2.0%
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
    		$154,000-4.3%
    3 Bed
    		$228,000-2.1%
    4 Bed
    		$308,000-0.6%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    1.6%
    1 Bedroom
    2.1%
    2 Bedrooms
    22.0%
    3 Bedrooms
    58.8%
    4 Bedrooms
    14.7%
    5+ Bedrooms
    0.9%

    Rental Trends — Santa Teresa, NM

    As of July '25, Rentcast reports the average rent in Santa Teresa, NM is $1,770, with a year-over-year rent change of 12.0%. Per bedroom, the median rent as of July '25 in Santa Teresa, NM is studios: $550, 2-bedrooms: $985, 3-bedrooms: $1,550, 4-bedrooms: $1,900. The most common rental property sizes in Santa Teresa, NM are 3-bedroom and 2-bedroom, accounting for 54.3% and 27.9% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,750$1,770
    Studio Rent $550$550
    1 Bed Rent N/AN/A
    2 Bed Rent $985$985
    3 Bed Rent $1,450$1,550
    4 Bed Rent $2,100$1,900
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    % of Rental Stock

    Studio
    2.8%
    1 Bedroom
    7.0%
    2 Bedrooms
    27.9%
    3 Bedrooms
    54.3%
    4 Bedrooms
    8.0%

    Property Listings — Santa Teresa, NM

    As of Dec '25, Realtor.com reports that the median days on market for a home in Santa Teresa, NM is 89. This is a increase of 2.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$405,000-3.0%
    Listing Count
    		2798.0%
    Listings as % of Homes1.6%98.0%
    Days on Market
    		10820.0%
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    Demographics — Santa Teresa, NM

    As of the latest ACS Survey released in 2023, Santa Teresa, NM has a population of 11,300, which has decreased by -19.2% over the past 5 years. Santa Teresa, NM is a popular place for families, as children make up 26.5% of the population. The area has a poorly educated workforce, with 13.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		11,300-19.2%
    % Under 18
    		26.5%-14.8%
    % Seniors
    		14.8%23.3%
    % WFH
    		5.2%20.9%
    % w/ College Degree
    		13.1%31.0%
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    As of the latest ACS Survey released in 2023, Santa Teresa, NM is a predominantly hispanic area, with 95.6% of the population identifying as hispanic. The hispanic population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Santa Teresa, NM is white, making up 4.2% of the population. Foreign-born residents account for 29.4% of the population in Santa Teresa, NM, and this percentage has decreased by 23.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		4.2%75.0%
    % Black
    		0.1%0.0%
    % Hispanic
    		95.6%-1.8%
    % Asian
    		0.0%N/A
    % Foreign Born
    		29.4%-23.4%
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    Mortgage and Risk — Santa Teresa, NM

    According to HUD data as of 2023, there were 78 mortgage originations in Santa Teresa, NM, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Santa Teresa, NM. Investor activity is low, as 6.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		78
    % Conventional Loans
    		53.0%
    % Government Loans
    		47.0%
    % Investor Loans
    		6.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Santa Teresa, NM

    Santa Teresa, NM lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		112
    Total Units Section 8
    		45
    % Rentals under Section 8
    		5.3%
    % Occupied Section 8
    		70.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$890
    2 Bedroom$55$985$1,040
    3 Bedroom-$10$1,450$1,440
    4 Bedroom-$340$2,100$1,760

    Affordability — Santa Teresa, NM

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.1
    Median Home Price$251,000
    Median Household Income$35,900

    Santa Teresa, NM — ZIP Code Boundary Map

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    Frequently Asked Questions