Housing in El Cerro Mission

A typical El Cerro Mission home is worth roughly $144,000

Home prices around El Cerro Mission have risen about 63% over the past 5 years.

#6Fastest-rising home prices in NM #11Most affordable in NM All NM rankings →

Typical home value

$144K

▲ 6.6% in a year · NM $318K

Estimate

2-bedroom rent

$1,530

a month, utilities in · HUD

Median tax bill

$819

NM $1,731

What kind of housing town is El Cerro Mission?

Read from the numbers below. The page puts what stands out first.

Your money goes further55% below the New Mexico typical home.Prices climbing fastUp 6.6% in a year.Newer homesThe typical home was built around 1999.

★ What stands out · Affordability

A typical home costs 2.9 years of income

Less than across New Mexico (5 years). Try your own numbers below.

You could afford about

$196,000

Typical El Cerro Mission home $144K

That covers a typical El Cerro Mission home, with $52K to spare.

The typical home, each month

$840

Loan $710Tax $90Insurance $40

A two-bedroom rents for about $1,530 a month here, $690 more than owning.

Where your budget reaches nearby

El Cerro$312K Monterey Park$56K

How El Cerro Mission ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, El Cerro Mission’s typical property tax (0.71% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Price trend

Home prices up 63% in 5 years

The federal house price index for the ZIP code around El Cerro Mission rose 63% over the past 5 years, faster than across New Mexico (50%). Last year prices rose 6.6%. Carrying the Census median home value forward with that index puts the typical El Cerro Mission home at roughly $144,000 today.

El Cerro Mission areaNew Mexico

+6.6%

past year

+63%

past 5 years

+97%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $144K.

How El Cerro Mission ranks on rising home prices →

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around El Cerro Mission, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

The homes

85% of El Cerro Mission households own their home

Half of El Cerro Mission’s homes were built before 1999.

Owners and renters

Own 85%Rent 15%

New Mexico: 70% own.

1999

typical home built · NM 1985

$819

median property tax bill · NM $1,731

0.71%

of a home’s value, a year in tax · NM 0.70%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Renting

A two-bedroom rents for about $1,530

Fair Market Rent a month, utilities included

Studio$1,050

1 bedroom$1,240

2 bedrooms$1,530

3 bedrooms$2,130

4 bedrooms$2,510

15%

of households rent · NM 30%

233

renter households

23%

of renters spend 30%+ of income on rent · NM 50%

37%

of the median income, for a two-bedroom

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Albuquerque, NM MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

El Cerro Mission vs. its neighbors

El Cerro Mission is the 2nd least expensive of 3 neighboring towns. Tap one to see its housing page.

El Cerro$312K El Cerro Mission$144K Monterey Park$56K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
El Cerro Mission	$144K*	+6.6%†	$1,530	$49,470
El Cerro	$312K*	+6.6%†	$1,530	$106,136
Monterey Park	$56K*	+6.6%†	$1,530	$28,162

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What El Cerro Mission buyers, sellers and renters are saying.

Town Square →

Weigh in

Is El Cerro Mission still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.