Housing in Las Maravillas

A typical Las Maravillas home is worth roughly $288,000

Home prices around Las Maravillas have risen about 63% over the past 5 years.

Typical home value

$288K

▲ 6.6% in a year · NM $318K

Estimate

2-bedroom rent

$1,530

a month, utilities in · HUD

Median tax bill

$1,224

NM $1,731

What kind of housing town is Las Maravillas?

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

Prices climbing fastUp 6.6% in a year.A town of owners94% of households own their home.Newer homesThe typical home was built around 1997.

★ What stands out · Price trend

Home prices up 63% in 5 years

The federal house price index for the ZIP code around Las Maravillas 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 Las Maravillas home at roughly $288,000 today.

Las Maravillas 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 $288K.

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

The homes

94% of Las Maravillas households own their home

Half of Las Maravillas’s homes were built before 1997.

Owners and renters

Own 94%Rent 6%

New Mexico: 70% own.

1997

typical home built · NM 1985

$1,224

median property tax bill · NM $1,731

0.53%

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

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

Affordability

A typical home costs 4.5 years of income

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

You could afford about

$258,000

Typical Las Maravillas home $288K

That’s $29K short of a typical Las Maravillas home.

The typical home, each month

$1,640

Loan $1,430Tax $130Insurance $80

A two-bedroom rents for about $1,530 a month here, $110 less than owning.

Where your budget reaches nearby

Monterey Park$56K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Las Maravillas’s typical property tax (0.53% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

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

of households rent · NM 30%

renter households

43%

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

29%

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

Las Maravillas vs. its neighbors

The towns that share a border with Las Maravillas. Tap one to see its housing page.

Las Maravillas$288K Monterey Park$56K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Las Maravillas	$288K*	+6.6%†	$1,530	$63,375
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 Las Maravillas buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Las Maravillas 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.