ZIP Code 87937 — Las Cruces, NM Home Prices (2026)
The typical home in ZIP 87937 (Las Cruces, New Mexico) is worth about $170,000 at roughly $96 per square foot — 39% more affordable than the Las Cruces median and 42% more affordable than the typical U.S. home.
How 87937 compares
ZIP 87937 is one of the more affordable ZIP codes in Las Cruces: its typical home value of $170,000 ranks #7 of the 7 Las Cruces ZIP codes we track (the citywide range runs from $170,000 in 87937 to $358,000 in 88011). Per square foot it costs about $96, against $186 for Las Cruces as a whole, $208 for New Mexico, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 87937 | $170,000 | $96 |
| Las Cruces, NM | $277,000 | $186 |
| New Mexico | $323,500 | $208 |
| United States | $294,000 | $195 |
Home value by size in 87937
Using this ZIP’s rate of about $96 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $96,000 |
| 1,500 sq ft | $144,000 |
| 2,000 sq ft | $192,000 |
| 2,500 sq ft | $240,000 |
| 3,000 sq ft | $288,000 |
Salary needed to buy a home in ZIP 87937
To buy the typical $170,000 home in ZIP 87937 with 20% down, you need a household income of roughly $46,000 a year (about $1,080 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $55,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $8,500 | $1,340/mo | $57,000/yr |
| 10% (+PMI) | $17,000 | $1,280/mo | $55,000/yr |
| 20% | $34,000 | $1,080/mo | $46,000/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 ZIP 87937
At about $96 per square foot, here is roughly how much home different budgets get you in ZIP 87937:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 1560 sq ft | around the typical home here |
| $200k | 2080 sq ft | around the typical home here |
| $250k | 2600 sq ft | above the median — larger homes or the pricier ZIPs |
| $300k | 3130 sq ft | above the median — larger homes or the pricier ZIPs |
| $400k | 4170 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 87937 home.
Estimate a specific home in 87937
The estimator below is pre-set to ZIP 87937 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Las Cruces ZIP codes by home value
Where 87937 sits among Las Cruces’s 7 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 88011 | $358,000 | $200 |
| 2 | 88007 | $328,000 | $211 |
| 3 | 88012 | $295,000 | $193 |
| 4 | 88005 | $277,000 | $186 |
| 5 | 88001 | $207,000 | $151 |
| 6 | 88032 | $198,000 | $104 |
| 7 | 87937 (this page) | $170,000 | $96 |
ZIP 87937 home prices: frequently asked
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See the full Las Cruces home values page, all New Mexico cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.