The housing market in New Mexico State is booming, with a median value of $267,100 and a one-year appreciation rate of 10.37%. This is higher than the US median house value of $338,100 and its one-year appreciation rate of 8.27%, which speaks to the potential for growth in the New Mexico housing market. The increasing home values show that investing in residential real estate in this state can be a sound decision for those looking for a long-term return on their investment.
The median home cost in New Mexico is $267,100. Home appreciation the last 10 years has been 70.9%. Home Appreciation in New Mexico is up 15.7%.
Average Age of Homes
- The median age of New Mexico real estate is 35 years old
The Rental Market in New Mexico
- Renters make up 26.8% of the New Mexico population
- 2.2% of houses and apartments in New Mexico, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.