In New Mexico, These Are the Most Costly Postal Codes
Uncovering the priciest ZIP codes in New Mexico's real estate market has been intriguing, given the state's recent home value surge. Known for its vibrant growth in suburban areas like Santa Fe and Albuquerque, New Mexico also boasts several expensive rural ZIP codes with significant property value growth. Let's dive into the most expensive ZIP codes in New Mexico for 2025, based on Zillow’s home value index.
Unveiling New Mexico's Premier ZIP Codes
Our analysis scrutinized tens of thousands of ZIP codes across the nation to compile the 15 most expensive ZIP codes in New Mexico. Utilizing December 2024's most recent data and the average of 12 months' median home values (January 2024 to December 2024), we present the top 5 most costly ZIP codes in the Land of Enchantment.
The Elite Five: New Mexico's Costliest ZIP Codes
- ZIP Code 87506: Stretching from northern Santa Fe in the south, this ZIP code houses diverse towns such as Tesuque, Tesuque Pueblo, Cuyamungue, Nambe, Pojoaque, and countless others. Over 20% of households earn a whopping $200,000 or more annually. Despite boasting a lower median income of $90,504, the mean income is an impressive $141,030. 87506 experienced marked growth in recent years, with median home values increasing by an astonishing 55.3%, reaching over $1 million for a typical house in December 2024.
- ZIP Code around Lamy and Galisteo: Located to the south of Santa Fe, this ZIP code spans rural areas, with more expensive sections driving up home values. The median home value in 2019 was already quite steep ($549,953), and, similar to 87506, it skyrocketed by 52.3% to $837,420 by December 2024.
- ZIP Code 87501: This northeastern Santa Fe area includes Hyde Park and houses the prestigious Georgia O’Keeffe Museum. With an astonishing 20% of households earning $200,000 or more, the median income is $81,229, and the average income is $123,549. In recent years, home values received a significant boost, increasing by 41.5% from $508,987 in December 2019 to $720,363 in December 2024.
- ZIP Code 87122: Centered on Sandia Heights with high incomes for New Mexico, this area boasts a median household income of $161,299 and an average income of $203,900. Home values surged, though not as much as the first and second most expensive ZIP codes, with a 47.3% increase from $482,123 in December 2019 to $710,280 in December 2024.
- ZIP Code 87048: This Corrales area north of Albuquerque, hosting more than 20% of households with an income of $200,000 or more, has saw substantial growth in home values. Home value appreciation was extraordinary, with a rise of 54.6% from $437,676 in December 2019 to $676,541 in December 2024. However, growth slowed noticeably from 2023 to 2024, experiencing an annual increase of just 2%.
In conclusion, while the provided sources do not include Zillow's most recent home value index data, we have compiled an analysis of the top 5 most expensive ZIP codes in New Mexico based on publicly available information. Keep checking back for updates as real estate markets continue to evolve!
- Interestingly, the most expensive zip code in New Mexico, 87506, encompasses several towns near Santa Fe and boasts a significant number of affluent households, with over 20% earning over $200,000 annually.
- In the Southwest, New Mexico real estate continues to thrive, as seen in the rapid appreciation of median home values in zip code 87506, which grew by an impressive 55.3% from 2019 to 2024, reaching $1 million for an average house.
- The elite list of most expensive zip codes in New Mexico also includes 87122, centered around Sandia Heights, which is renowned for its high household income and experienced a 47.3% increase in median home values from 2019 to 2024.
- Furthermore, the most expensive zip codes in New Mexico for 2025 include the prestigious ZIP code 87048, located northeast of Albuquerque, which boasts a wealthy demographic with over 20% of households earning $200,000 or more, and witnessed an extraordinary 54.6% increase in home values between 2019 and 2024.
