Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$285,348−0.6% YoY · prices are falling
Market right nowBuyer's marketMore homes for sale than last year, 14% have cut their price
Income needed to buy, per year$61,858About 1.0× the local median income ($60,154): a stretch for a typical household
Days on market89 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.1%Zillow expects prices to rise slightly
The typical home in Las Cruces, NM is worth $285,348, down 0.6% from a year ago. That is well below what local incomes have historically supported: fair value is about $317,403, so the area is 10.1% undervalued. It is a buyer's market: homes take about 89 days to sell, listings are up 23% from a year ago, 14% of listings have had a price cut. Zillow expects prices to rise about 1.1% over the next year. A household needs about $61,858 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $60,154. Typical rent is $1,472 a month, or $1,748 for a house. In the latest IRS figures, 50 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$285,348
Change in 1 year
−0.6%
Overvalued %
−10.1%
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Fair home value
$317,403
Change in 5 years
+26.8%
Zillow forecast, next 12 months
+1.1%
Home value to income
4.7×
Monthly mortgage payment (20% down)
$1,546
Income needed to afford it
$61,858
Property tax rate
0.67%
Rent and investing
Typical rent
$1,472
Typical rent for houses
$1,748
Price-to-rent ratio
16.2×
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HUD Fair Market Rent, 2 bedrooms
$1,073
Gross rental yield
6.19%
Cap rate (estimate)
4.02%
Market activity
Listings vs a year ago
+23.0%
Days on market
89
Listings with a price cut
13.9%
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Homes for sale
1,042
Pending sales per 100 listings
24
Asking price per sq ft
$186
People and jobs
Median household income
$60,154
Population change (1 year)
+0.4%
Unemployment rate
6.8%
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Population
229,091
Income adjusted for cost of living
$66,690
Net moves in (IRS)
+50
Cost of living (US = 100)
90.2
Schools, risk and environment
School rating (1 to 10)
5.3
FEMA hazard risk score (0 to 100)
96.1
Unhealthy air days a year
48
Show 4 more
Flood risk score
98.4
Wildfire risk score
86.6
Walkability (1 to 20)
7.1
Road, rail and air noise
54 dB
Questions people ask
Is Las Cruces, NM overvalued?
Home prices in Las Cruces, NM are well below what local incomes have historically supported: fair value is about $317,403, so the area is 10.1% undervalued.
Is Las Cruces, NM a buyer's or seller's market?
Las Cruces, NM is a buyer's market: homes take about 89 days to sell, listings are up 23% from a year ago, 14% of listings have had a price cut.
Are home prices going down in Las Cruces, NM?
Home values in Las Cruces, NM are down 0.6% over the last year. Zillow's forecast for the next 12 months is +1.1%.
How much do you need to earn to buy a home in Las Cruces, NM?
A household needs about $61,858 a year to afford the typical home in Las Cruces, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $60,154.