Caballo, NM housing market
The typical Caballo home is worth about $191,000, up 2.2% in a year, 40% below the New Mexico typical home.
Home values, sales, trends and how Caballo compares with the towns next door — updated as new data is published.
Caballo at a glance
Typical home value, 2017–2026
Show as a table
| January | Caballo | New Mexico |
|---|---|---|
| 2018 | $157,000 | $184,000 |
| 2019 | $157,000 | $193,000 |
| 2020 | $167,000 | $205,000 |
| 2021 | $189,000 | $229,000 |
| 2022 | $200,000 | $263,000 |
| 2023 | $209,000 | $287,000 |
| 2024 | $200,000 | $302,000 |
| 2025 | $198,000 | $313,000 |
| 2026 | $187,000 | $315,000 |
| August 2026 | $191,000 | $318,000 |
A two-bedroom rents for about $1,000
HUD's Fair Market Rent for a two-bedroom in Caballo is $1,000 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $690 · 4 bedrooms $1,610
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (87931; Sierra County, NM), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.