Recent studies have highlighted the affordability and availability of properties in New Mexico, a state known for its growing infrastructure and economic diversity. To understand which ZIP codes remain among the most expensive in the region, we analyzed the latest data from Zillow’s home value index, focusing on New Mexico’s analytical capabilities.
In 2025, New Mexico presents an intriguing opportunity for homeowners seeking high-value investments. Interestingly, the single most expensive ZIP code in the region is 87506, a village located in the northern part of the state, stretching across Santa Fe and Albuquerque. This area is characterized by its proximity to phút humming towns, such as Cuyamungue, which draw a larger.
87506, with its densely populated housing areas and rural exteriors, commands the highest median home values. Over the past five years, its median home value has grown significantly, rising by 55% from its peak in 2019, reaching $1.068 million in December 2024. The region’s rising home values reflect the increasing demand for higher-end housing in a state with.Dictated real estate trends.
The second most expensive ZIP code in New Mexico is 87501, which spans an area northeast of downtown Santa Fe. Known for its urban charm, this ZIP code benefits from highly priced real estate, adding another dimension to its shared affordability. In 2024, its median home value is set at $720,363, up 41.5% from its 2019 value of $508,987.
The No. 3 most expensive ZIP code is 87501, located northeast of downtown Santa Fe. This area is characterized by its proximity to Georgia O’Keeffe Museum and the bustling feel of Santa Fe’s urban center. The ZIP code’s elevated home prices reflect its community’s appetite for luxury living. In 2024, its median home value stands at $720,363, marking another year of growth.
In addition to its proximity to the city, the No. 4 most expensive ZIP code, 87122, is the northeastnostic neighborhood of Albuquerque. This ZIP code is known for its high-income areas and vibrant social scene, driving up home values as people seek shelter in a affluent community. In 2024, its median home value is $710,280, up 47.3% from 2019’s $482,123.
Finally, the No. 5 most expensive ZIP code in New Mexico is 87048, located north of Albuquerque. This ZIP code’s elevated prices are attributed to its proximity to Corrales, a vibrant border town. However, the home values here have slowed down slightly from 2023 to 2024, growing by only 2% annually. Its median home value is set at $676,541 in 2024.
Overall, New Mexico’s ZIP codes continue to represent a nuanced landscape with areas offering high home values, while others remain affordable due to limited demand. Understanding these trends is essential for homeowners seeking to invest or live in high-value neighborhoods.
