Housing · Elephant Butte
Elephant Butte, NM housing market
The typical Elephant Butte home is worth about $241,000, up 2.1% in a year, 24% below the New Mexico typical home.
Home values, sales, trends and how Elephant Butte compares with the towns next door — updated as new data is published.
The market right now
Elephant Butte at a glance
Typical home value
$241K
▲ 2.1% in a year · Zillow
Ten-year trend
Typical home value, 2016–2026
Elephant ButteNew Mexico
Show as a table
| January | Elephant Butte | New Mexico |
|---|---|---|
| 2017 | $145,000 | $178,000 |
| 2018 | $141,000 | $184,000 |
| 2019 | $143,000 | $193,000 |
| 2020 | $149,000 | $205,000 |
| 2021 | $171,000 | $229,000 |
| 2022 | $196,000 | $263,000 |
| 2023 | $211,000 | $287,000 |
| 2024 | $215,000 | $302,000 |
| 2025 | $230,000 | $313,000 |
| 2026 | $242,000 | $315,000 |
| August 2026 | $241,000 | $318,000 |
Nearby
Elephant Butte and its neighbors
The towns that share a border. Tap one to see its housing page.
| Town | Typical value | 1-yr change | Days on market | Median income |
|---|---|---|---|---|
| Elephant Butte | $241K | +2.1% | — | $53,482 |
| Truth or Consequences | $158K | +4.2% | — | $33,788 |
Affordability
4.5 years of income
The typical Elephant Butte home costs about 4.5 years of the town's median household income, less than across New Mexico (5 years).
Home value ÷ ACS median household income.
The homes
Owners, rent & taxes
Homeownership
77.6%
New Mexico: 70%
Median tax bill
$910
New Mexico: $1,731
Median rent
$1,089
New Mexico: $1,067
Typical home built
1995
New Mexico: 1985
U.S. Census Bureau, ACS 2020-2024.
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. Listings link to their publishers.