Cheapest and most expensive ZIP codes in New Mexico
Typical home values for 153 New Mexico ZIP codes with Zillow data (2026-09). Click a ZIP for its price trend and market stats.
10 most affordable ZIP codes
| ZIP | City | County | Typical value | 6-mo change |
|---|---|---|---|---|
| 88401 | Tucumcari | Quay County | $78,223 | +3.9% |
| 88026 | Santa Clara | Grant County | $97,346 | +3.4% |
| 88415 | Clayton | Union County | $100,444 | -9.3% |
| 88119 | Fort Sumner | De Baca County | $101,078 | +3.6% |
| 88043 | Hurley | Grant County | $105,877 | -2.4% |
| 88023 | Bayard | Grant County | $117,865 | -6.6% |
| 88267 | Tatum | Lea County | $132,327 | -3.4% |
| 88230 | Dexter | Chaves County | $139,606 | -6.0% |
| 88252 | Jal | Lea County | $142,147 | -4.8% |
| 88130 | Portales | Roosevelt County | $143,210 | -2.6% |
10 most expensive ZIP codes
| ZIP | City | County | Typical value | 6-mo change |
|---|---|---|---|---|
| 87506 | Santa Fe | Santa Fe County | $1,098,763 | +0.7% |
| 87540 | Lamy | Santa Fe County | $836,320 | +1.3% |
| 87122 | Albuquerque | Bernalillo County | $748,956 | +0.9% |
| 87501 | Santa Fe | Santa Fe County | $732,038 | +1.8% |
| 87048 | Corrales | Sandoval County | $705,091 | +0.5% |
| 87508 | Santa Fe | Santa Fe County | $643,401 | +0.6% |
| 87043 | Placitas | Sandoval County | $642,106 | -0.8% |
| 88312 | Alto | Lincoln County | $596,028 | -0.2% |
| 87547 | Los Alamos | Los Alamos County | $591,521 | +0.7% |
| 87544 | Los Alamos | Los Alamos County | $574,819 | -0.1% |
What these numbers mean for New Mexico buyers
The most expensive New Mexico ZIP code in this list has a typical home value 14.0 times the cheapest. The middle ZIP code is at $276,177. 91 of 153 ZIP codes are below the statewide typical value of $315,812.
Over the last six months, typical values rose in 81 of 153 ZIP codes and fell or held steady in 72.
Down payment at different price points
At the cheapest ZIP's typical value, a 3.5% down payment is $2,738 and 20% is $15,645. At the middle ZIP's value, the same down payments are $9,666 and $55,235. Add roughly 2% to 5% for closing costs.
Before you choose a ZIP code, compare New Mexico property and transfer taxes and check New Mexico first-time buyer programs, which can lower the cash you need.
Source: Zillow Home Value Index (ZHVI), mid-tier, by ZIP. ZIPs without their own Zillow series are excluded. 6-month change = last six monthly readings.
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