Housing in Paradise Hills

A typical Paradise Hills home is worth roughly $292,000

Home prices around Paradise Hills have risen about 52% over the past 5 years.

Typical home value

$292K

▲ 1.6% in a year · NM $318K

Estimate

2-bedroom rent

$1,660

a month, utilities in · HUD

Median tax bill

$1,997

NM $1,731

Price trend

Home prices up 52% in 5 years

The federal house price index for the ZIP code around Paradise Hills rose 52% over the past 5 years, about the same as across New Mexico. Last year prices rose 1.6%. Carrying the Census median home value forward with that index puts the typical Paradise Hills home at roughly $292,000 today.

Paradise Hills areaNew Mexico

+1.6%

past year

+52%

past 5 years

+89%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $292K.

How Paradise Hills ranks on rising home prices →

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

Affordability

A typical home costs 4 years of income

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

You could afford about

$289,000

Typical Paradise Hills home $292K

That’s $3K short of a typical Paradise Hills home.

The typical home, each month

$1,720

Loan $1,450Tax $190Insurance $90

A two-bedroom rents for about $1,660 a month here, $60 less than owning.

How Paradise Hills ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Paradise Hills’s typical property tax (0.78% 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 $1,660

Renters already here pay a median of $1,361, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$1,140

1 bedroom$1,340

2 bedrooms$1,660

3 bedrooms$2,310

4 bedrooms$2,720

24%

of households rent · NM 30%

440

renter households

39%

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

27%

of the median income, for a two-bedroom

$1,361

median rent paid today · Census

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.

The homes

76% of Paradise Hills households own their home

Half of Paradise Hills’s homes were built before 1974.

Owners and renters

Own 76%Rent 24%

New Mexico: 70% own.

1974

typical home built · NM 1985

$1,997

median property tax bill · NM $1,731

0.78%

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

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

Neighbors talk housing

What Paradise Hills buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Paradise Hills 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.