Santa Fe County, New Mexico Housing Market Prices
Santa Fe County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 120% above the New Mexico median Among the 3 most expensive counties in New Mexico$448,701
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Median rent 30% above the New Mexico median Among the 3 most expensive counties in New Mexico$1,389
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $448,701 | $204,122 | $248,835 |
| Price Trend (Annual %) | 4.9% | 3.1% | 7.5% |
| Median Gross Rent | $1,389 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Fe County is about 120% higher than in New Mexico. Rent is about 30% higher than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Santa Fe County, up about 4.9% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Santa Fe County rose about 47.1% between 2015 and 2024, from $944 to $1,389. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Santa Fe County.
Buying the median-priced home in Santa Fe County costs roughly 26.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Santa Fe County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $448,701 | $204,122 | $248,835 |
| Median Household Income | $79,204 | $64,523 | $80,455 |
| Price-to-Income Ratio | 5.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Santa Fe County rose about 36.3%, while median household income rose about 39.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.2% | 61.3% | 58.5% |
| Rental Rate | 25.6% | 26.2% | 31.2% |
| Vacancy Rate | 10.2% | 12.5% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Santa Fe County has a homeownership rate of 64.2%, higher than the New Mexico average of 61.3%. Its housing vacancy rate is 10.2%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1986 | 1983 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Santa Fe County was built around 1986. On average, 2.2 people live in a home with about 5.3 rooms, staying for about 16.0 years on average.
Santa Fe County, NM Housing Compared With Nearby Counties
Santa Fe County, NM is the 2nd largest of the 6 counties compared here, 155,407 residents against a local median of 34,542. The measure that sets Santa Fe County, NM apart most is median home price: $448,701, 72% above the local median of $260,969.
Median rent tells the same story from another angle: $1,389 against a local median of $1,145, 21% above it. The counties themselves spread $136,103 on median home price, so Santa Fe County, NM sits at one end of an already wide local range rather than apart from it. Santa Fe County, NM has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Santa Fe County, NM | 155,407 | $448,701 #1/6 | $1,389 #2/6 | 71.5% #5/6 |
| Los Alamos County, NM | 19,409 | $245,215 | $1,374 | 74.8% |
| Bernalillo County, NM | 672,163 | $260,969 | $1,145 | 64.6% |
| Torrance County, NM | 15,478 | $197,226 | $871 | 81.7% |
| Sandoval County, NM | 153,584 | $302,768 | $1,426 | 83.5% |
| Taos County, NM | 34,542 | $333,329 | $1,034 | 77.6% |
Frequently Asked Questions
Common questions about the housing market in Santa Fe County, New Mexico.
What is the median home price in Santa Fe County, New Mexico?
The median home price in Santa Fe County, New Mexico is $448,701, higher than the New Mexico average of $204,122.
What is the average home price in Santa Fe County, New Mexico?
The typical home price in Santa Fe County, New Mexico, reported as the median sale price, is $448,701. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Santa Fe County, New Mexico?
The median gross rent in Santa Fe County, New Mexico is $1,389 per month, higher than the New Mexico average of $1,067.
What was the median gross rent in Santa Fe County in 2020?
In 2020, the median gross rent in Santa Fe County, New Mexico was $1,091 per month.
What is the price-to-rent ratio in Santa Fe County, New Mexico?
The price-to-rent ratio in Santa Fe County, New Mexico is about 26.9, meaning it would take roughly 26.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Santa Fe County.
Are home prices or rent rising faster in Santa Fe County, New Mexico?
Both home prices and rent are rising in Santa Fe County, up about 4.9% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Santa Fe County, New Mexico?
64.2% of households in Santa Fe County, New Mexico own their home, higher than the New Mexico average of 61.3%.
What is the vacancy rate in Santa Fe County, New Mexico?
The housing vacancy rate in Santa Fe County, New Mexico is 10.2%, lower than the New Mexico average of 12.5%.
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