Picacho Hills, NM housing market
Homes typically sell in 139 days.
Home values, sales, trends and how Picacho Hills compares with the towns next door — updated as new data is published.
Picacho Hills at a glance
A buyer's market
More homes are for sale than are selling — about 10 months of supply. Buyers have room to negotiate.
Home prices up 50% in 5 years
The federal house price index for the ZIP code around Picacho Hills rose 50% over the past 5 years, about the same as across New Mexico. Last year prices rose 2.9%. Carrying the Census median home value forward with that index puts the typical Picacho Hills home at roughly $732,000 today.
Show as a table
| Year | Change that year | Since 2000 | New Mexico since 2000 |
|---|---|---|---|
| 2025 | +2.9% | +136% | +151% |
| 2024 | +2.9% | +130% | +143% |
| 2023 | +10% | +123% | +131% |
| 2022 | +13% | +103% | +114% |
| 2021 | +14% | +79% | +87% |
| 2020 | +3.3% | +58% | +68% |
| 2019 | +3.7% | +53% | +60% |
| 2018 | +4.3% | +47% | +52% |
| 2017 | +0.5% | +41% | +47% |
| 2016 | +2.5% | +41% | +42% |
| 2015 | +1% | +37% | +38% |
| 2014 | 0% | +36% | +36% |
| 2013 | −1% | +36% | +34% |
| 2012 | −3.4% | +37% | +33% |
| 2011 | −5.1% | +42% | +37% |
| 2010 | −5.9% | +49% | +43% |
| 2009 | −2.1% | +59% | +49% |
| 2008 | −3.1% | +62% | +57% |
| 2007 | +6.6% | +67% | +59% |
| 2006 | +13% | +57% | +50% |
| 2005 | +15% | +39% | +33% |
| 2004 | +7.8% | +21% | +18% |
| 2003 | +2.4% | +12% | +11% |
| 2002 | +5.9% | +9.6% | +6.8% |
| 2001 | +3.5% | +3.6% | +3.6% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 88007, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Picacho Hills and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Picacho Hills | — | +2.9%† | $970 | — | $120,850 |
| Las Cruces | $290K | −0.7% | $1,120 | 642 | $55,422 |
† FHFA price index change, where Zillow has no home value for the town.
3.8 years of income
The typical Picacho Hills home costs about 3.8 years of the town's median household income, less than across New Mexico (5 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $970
HUD's Fair Market Rent for a two-bedroom in Picacho Hills is $970 a month, utilities included: roughly what a modest, recently rented unit costs. A two-bedroom takes about 10% of the town's median household income.
Studio $700 · 4 bedrooms $1,480
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (88007; 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. Sales, days on market and supply: Redfin Data Center, May 2026. 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.