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NMNew Mexico rankings

Towns where home prices are rising fastest in New Mexico

Ranked by how much home prices rose over the past five years, from the federal house price index (FHFA) for the ZIP codes that cover each town. 50 towns with 2,500+ residents.

U.S. Census ACS 2020–2024 5-year

Map of Rio Communities 1 Rio Communities +73.0% Past year +3.1% Los Chaves 2 Los Chaves +70.4% Past year +4.1% Map of Belen 3 Belen +69.9% Past year +4.3%
#Town5-year price changePast yearMedian home value
1 Map of Rio Communities Rio Communities4,925 people +73.0% +3.1% $205,900
2 Los Chaves Los Chaves4,838 people +70.4% +4.1% $285,700
3 Map of Belen Belen7,450 people +69.9% +4.3% $166,100
4 Las Vegas Las Vegas13,000 people +67.4% +18.9% $155,300
5 Los Lunas Los Lunas18,618 people +63.4% +6.6% $262,900
6 El Cerro Mission5,323 people +63.4% +6.6% $115,300
7 Map of Meadow Lake Meadow Lake4,259 people +63.4% +6.6% $77,900
8 El Cerro2,923 people +63.4% +6.6% $311,500
9 Los Alamos Los Alamos13,317 people +61.6% +0.6% $501,800
10 South Valley South Valley37,120 people +60.3% −0.9% $224,300
11 Bosque Farms Bosque Farms4,071 people +59.2% +12.2% $293,100
12 Alamogordo Alamogordo31,307 people +58.8% +8.9% $172,900
13 Rio Rancho Rio Rancho108,515 people +58.7% +1.8% $310,200
14 Deming Deming15,221 people +58.3% −1.9% $127,400
15 Ranchos de Taos Ranchos de Taos2,536 people +58.2% +4.3% $349,700
16 Silver City Silver City9,536 people +56.8% +2.6% $182,100
17 Bloomfield Bloomfield7,395 people +56.4% +10.7% $161,200
18 Española Española10,473 people +55.1% +7.2% $210,800
19 La Mesilla2,697 people +55.1% +7.2% $315,800
20 Los Ranchos de Albuquerque Los Ranchos de Albuquerque5,857 people +54.6% +3.3% $492,400
21 Lee Acres4,272 people +54.0% +6.3% $187,400
22 Paradise Hills4,591 people +52.4% +1.6% $254,600
23 Albuquerque Albuquerque562,218 people +52.4% +2.7% $291,500
24 North Valley North Valley10,455 people +52.1% +2.5% $302,700
25 Map of Grants Grants8,951 people +51.9% +14.3% $136,500
26 Map of Edgewood Edgewood6,124 people +51.8% +1.0% $306,400
27 Farmington Farmington46,314 people +51.7% +5.3% $233,000
28 Crouch Mesa4,812 people +51.2% +4.0% $89,200
29 Las Cruces Las Cruces114,197 people +50.9% +1.6% $231,700
30 La Cienega La Cienega3,543 people +49.9% +1.6% $517,100
31 Agua Fria Agua Fria2,898 people +49.9% +1.6% $270,400
32 Santa Fe Santa Fe89,019 people +48.5% +0.1% $444,900
33 Aztec Aztec6,150 people +47.7% +3.8% $175,000
34 Sandia Heights3,160 people +47.6% +6.0% $670,100
35 Corrales Corrales8,555 people +47.6% +4.3% $571,500
36 Ruidoso Ruidoso7,699 people +47.5% −2.8% $243,800
37 Taos Taos6,458 people +47.4% −4.0% $445,900
38 White Rock White Rock5,716 people +45.9% −6.9% $500,700
39 Placitas Placitas4,223 people +44.5% +3.4% $562,100
40 Socorro Socorro8,481 people +42.3% −13.2% $152,900
41 Raton Raton6,026 people +42.2% −1.0% $134,300
42 Gallup Gallup21,023 people +37.0% +5.0% $165,200
43 North Hobbs6,034 people +36.9% +8.6% $264,400
44 Portales Portales11,968 people +34.4% +5.8% $133,400
45 Roswell Roswell47,638 people +33.8% −0.3% $152,600
46 Clovis Clovis37,942 people +33.3% +2.7% $169,400
47 Hobbs Hobbs40,252 people +31.5% +7.3% $191,300
48 Artesia Artesia12,576 people +28.6% +4.9% $229,400
49 Lovington Lovington11,498 people +27.5% +4.1% $166,100
50 Carlsbad Carlsbad31,746 people +26.8% +5.4% $200,000

How this ranking works

We use the Federal Housing Finance Agency’s house price index for the ZIP codes that cover each town, weighted by how much of the town’s land each ZIP code covers. The index follows repeat sales and appraisals of the same homes, so it shows how much prices changed, not what homes cost. The biggest five-year rise ranks #1. Across New Mexico, prices rose 49.8% over the same five years.

A town is ranked only when ZIP codes with an index cover at least 90% of its land, so a town isn’t judged by a neighbor’s prices. The index is built from Fannie Mae and Freddie Mac mortgages, so the very top of the market is under-represented.

Only towns with at least 2,500 residents are ranked; Census estimates for smaller places are too uncertain. Population and income: U.S. Census Bureau American Community Survey 5-year estimates. Prices: FHFA House Price Index (annual, by ZIP code). Town photos: Wikimedia Commons, credited on each town’s page.

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