New Mexico Average Home Price by City (2026)

The average home price in New Mexico (NM) is about $323,500 — the 2026 median, at ~$208/sq ft — 10% more expensive than the typical U.S. home.

$323,500
New Mexico median value
$208
Median price / sq ft
~1,560
sq ft a median budget buys
+10%
vs U.S. median
Albuquerque — $355,500AlbuquerqueLas Cruces — $277,000Las CrucesSanta Fe — $659,000Santa FeHanover — $236,000HanoverAlamogordo — $220,000AlamogordoSilver City — $208,000

Shaded by price · click a city to explore. Colour = median home value.

Considering a move to New Mexico?

Housing in New Mexico is 10% more expensive than the national average, with a typical home around $323,500 and a local rate near $208 per square foot. Among the 6 New Mexico cities we track, Santa Fe is the most expensive (median $659,000) and Silver City is the most affordable (median $208,000) — so where you land in the state matters as much as the state itself.

Browse New Mexico cities

Santa Fe$659,000Albuquerque$355,500Las Cruces$277,000Hanover$236,000Alamogordo$220,000Silver City$208,000

See the cheapest (and most expensive) places to live in New Mexico.

Don’t see your city? Use the free Home Value Estimator for any U.S. ZIP, see the most expensive ZIP codes in America, or browse the full U.S. directory.

Salary needed to buy a home in New Mexico

To buy the typical $323,500 home in New Mexico with 20% down, you need a household income of roughly $88,000 a year (about $2,050 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $105,000, because the loan is bigger and mortgage insurance kicks in.

Down paymentCash downMonthly paymentIncome needed
5% (+PMI)$16,200$2,550/mo$109,000/yr
10% (+PMI)$32,400$2,440/mo$105,000/yr
20%$64,700$2,050/mo$88,000/yr

Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.

What your budget buys in New Mexico

At about $208 per square foot, here is roughly how much home different budgets get you in New Mexico:

BudgetApprox. sizeWhat that looks like locally
$150k720 sq ftbelow the local median — condos, smaller or older homes
$200k960 sq ftbelow the local median — condos, smaller or older homes
$250k1200 sq ftbelow the local median — condos, smaller or older homes
$300k1440 sq ftaround the typical home here
$400k1920 sq ftaround the typical home here

Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens filtered to New Mexico so you can compare your current home against every New Mexico city we track.

New Mexico home prices: frequently asked

What salary do you need to buy a house in New Mexico? +
For the typical $323,500 home in New Mexico, a household income of about $88,000 a year covers the payment with 20% down (a 30-year fixed at 6.5%, plus taxes and insurance, under the 28% rule). With 10% down you need roughly $105,000; with 5% down about $109,000.
What is the average home price in New Mexico? +
The average home price in New Mexico is about $323,500 as of 2026, at roughly $208 per square foot — 10% more expensive than the U.S. median of $294,000. That figure is the statewide median across the ZIP codes we track, which is what most price reports mean by the average.
What is the median home price in New Mexico (NM)? +
About $323,500 in 2026. The median is the mid-point home — half of homes cost more, half less — and it is the better yardstick than a true mean, which a handful of luxury sales can drag upward. At $208/sq ft, a median budget in New Mexico buys roughly 1,560 sq ft of home.
Where is New Mexico most and least expensive? +
Among the 6 New Mexico cities tracked here, Santa Fe is the priciest (median $659,000) and Silver City is the most affordable (median $208,000). ZIP-level prices within one city vary further, so check the city page for your area.