Santa Fe County, New Mexico Housing Market
In Santa Fe County, New Mexico, the median home value is $446,300, with a median monthly rent of $1,389. This places Santa Fe County at #202 nationally out of 3134 counties by median home value, and #2 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,154
- Establishments: 6,467
- BLS QCEW, 2025
Housing Supply
- Single-family: 251
- Multi-family: 244
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 71,725 (avg $101,475)
- Outflow: 67,652 (avg $100,765)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Santa Fe County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 87501 | 298.7 | -4.43% | 2025 |
| 2 | 87508 | 237.3 | -5.29% | 2025 |
| 3 | 87507 | 278.6 | +1.58% | 2025 |
| 4 | 87505 | 270.5 | +2.54% | 2025 |
| 5 | 87506 | 195.1 | -0.74% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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| Metric | Santa Fe County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $446,300 | $192,727 | $227,706 |
| Median Gross Rent | $1,389 | $904 | $968 |
| Owner Occupancy Rate | 71.5% | 74.2% | 73.3% |
| Price/Rent Ratio | 26.8 | 17.7 | 18.7 |
Market Analysis
The median home value in Santa Fe County is 131.6% above the New Mexico state average and 96.0% above the U.S. national average. The median rent of $1,389/month is 53.7% above the state average.
With a price-to-rent ratio of 26.8, Santa Fe County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Santa Fe County has an owner-occupancy rate of 71.5%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Chatham County | North Carolina | $446,200 | $1,180 |
| Humboldt County | California | $446,900 | $1,287 |
| Jefferson County | Montana | $446,900 | $925 |
| Bucks County | Pennsylvania | $445,700 | $1,605 |
| Williamson County | Texas | $447,000 | $1,796 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Los Alamos County | $495,800 | $1,375 | 74.8% |
| Taos County | $382,800 | $1,034 | 77.6% |
| Sandoval County | $313,800 | $1,427 | 83.5% |
| Bernalillo County | $292,900 | $1,144 | 64.5% |
| Rio Arriba County | $243,700 | $740 | 80.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).