Las Cruces, NM housing market
The typical Las Cruces home is worth about $290,000, down 0.7% in a year, 9% below the New Mexico typical home. Homes typically sell in 45 days, below asking.
Home values, sales, trends and how Las Cruces compares with the towns next door — updated as new data is published.
Las Cruces at a glance
A seller's market
Supply is tight — about 3.1 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Las Cruces | New Mexico |
|---|---|---|
| 2017 | $169,000 | $178,000 |
| 2018 | $173,000 | $184,000 |
| 2019 | $184,000 | $193,000 |
| 2020 | $187,000 | $205,000 |
| 2021 | $207,000 | $229,000 |
| 2022 | $242,000 | $263,000 |
| 2023 | $271,000 | $287,000 |
| 2024 | $288,000 | $302,000 |
| 2025 | $293,000 | $313,000 |
| 2026 | $291,000 | $315,000 |
| August 2026 | $290,000 | $318,000 |
642 new homes permitted in 2025
Builders were permitted 642 new homes in Las Cruces in 2025: 553 single-family houses and 89 in buildings with two or more homes, worth about $156.3 million to build. That's 5.6 per 1,000 residents, about the pace of New Mexico as a whole. Over the past 10 years, Las Cruces has permitted 6,905 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Las Cruces gained 13,767 residents while 5,641 new homes were permitted: about 2.4 new residents per new home. Building and growth moved roughly in step. Across New Mexico: 1.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 415 | 380 | 35 | $106.8 million |
| 2025 | 642 | 553 | 89 | $156.3 million |
| 2024 | 745 | 615 | 130 | $170.8 million |
| 2023 | 573 | 549 | 24 | $161.4 million |
| 2022 | 711 | 685 | 26 | $193.1 million |
| 2021 | 862 | 763 | 99 | $199 million |
| 2020 | 813 | 737 | 76 | $191.8 million |
| 2019 | 686 | 584 | 102 | $152.9 million |
| 2018 | 649 | 527 | 122 | $124.1 million |
| 2017 | 793 | 478 | 315 | $112.3 million |
| 2016 | 431 | 418 | 13 | $80.5 million |
| 2015 | 413 | 372 | 41 | $76.5 million |
| 2014 | 298 | 287 | 11 | $59.5 million |
| 2013 | 504 | 397 | 107 | $83.6 million |
| 2012 | 659 | 415 | 244 | $96.3 million |
| 2011 | 457 | 439 | 18 | $82.1 million |
| 2010 | 751 | 576 | 175 | $112.9 million |
| 2009 | 915 | 630 | 285 | $121.4 million |
| 2008 | 660 | 632 | 28 | $86.8 million |
| 2007 | 1,030 | 980 | 50 | $140.6 million |
| 2006 | 1,841 | 1,526 | 315 | $237.6 million |
| 2005 | 1,916 | 1,616 | 300 | $256.5 million |
| 2004 | 1,158 | 838 | 320 | $143.5 million |
| 2003 | 1,258 | 796 | 462 | $133.5 million |
| 2002 | 811 | 530 | 281 | $85.4 million |
| 2001 | 577 | 327 | 250 | $50.2 million |
| 2000 | 513 | 285 | 228 | $45.1 million |
Las Cruces's permit office reported 3 of 12 months in 2025; the Census estimated the rest.
How Las Cruces ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Las Cruces and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Las Cruces | $290K | −0.7% | $1,120 | 642 | $55,422 |
| Mesilla | — | −1.5%† | $1,050 | — | $74,750 |
| Picacho Hills | — | +2.9%† | $970 | — | $120,850 |
| Tortugas | — | −1%† | $1,090 | — | $31,554 |
† FHFA price index change, where Zillow has no home value for the town.
5.2 years of income
The typical Las Cruces home costs about 5.2 years of the town's median household income, about the same as across New Mexico (5).
How Las Cruces ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,120
HUD's Fair Market Rent for a two-bedroom in Las Cruces is $1,120 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Las Cruces pay a median of $974, so moving in tends to cost more than staying put. A two-bedroom takes about 24% of the town's median household income.
Studio $810 · 4 bedrooms $1,700
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (88001, 88005, 88007, 88011, 88012; Las Cruces, NM MSA), 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, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.