A typical Monterey Park home is worth roughly $56,000
Home prices around Monterey Park have risen about 63% over the past 5 years.
What kind of housing town is Monterey Park?
Read from the numbers below. The page puts what stands out first.
A typical home costs 2 years of income
Less than across New Mexico (5 years). Try your own numbers below.
That covers a typical Monterey Park home, with $56K to spare.
A two-bedroom rents for about $1,530 a month here, $1,200 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Monterey Park’s typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 63% in 5 years
The federal house price index for the ZIP code around Monterey Park rose 63% over the past 5 years, faster than across New Mexico (50%). Last year prices rose 6.6%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Monterey Park, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
91% of Monterey Park households own their home
Half of Monterey Park’s homes were built before 1981.
New Mexico: 70% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,530
Fair Market Rent a month, utilities included
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.
Monterey Park vs. its neighbors
Monterey Park is the least expensive of 3 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Monterey Park | $56K* | +6.6%† | $1,530 | $28,162 |
| Las Maravillas | $230K* | +6.6%† | $1,530 | $63,375 |
| El Cerro Mission | $115K* | +6.6%† | $1,530 | $49,470 |
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 Monterey Park buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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.