South Valley, New Mexico Housing Market Prices
South Valley 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 47% above the New Mexico median$300,076
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Median rent 10% below the New Mexico median$957
Housing Market Overview
| Metric | South Valley | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,076 | $204,122 | $248,835 |
| Price Trend (Annual %) | 10.5% | 3.1% | 7.5% |
| Median Gross Rent | $957 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South Valley is about 47% higher than in New Mexico. Rent is about 10% lower 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 South Valley, up about 10.5% and 3.8% a year respectively. Home prices are changing faster.
Median rent in South Valley rose about 36.6% between 2015 and 2024, from $700 to $957. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in South Valley.
Buying the median-priced home in South Valley costs roughly 26.1 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 South Valley. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | South Valley | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,076 | $204,122 | $248,835 |
| Median Household Income | $59,970 | $64,523 | $80,455 |
| Price-to-Income Ratio | 5.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in South Valley rose about 90.5%, while median household income rose about 41.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | South Valley | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.7% | 61.3% | 58.5% |
| Rental Rate | 22.8% | 26.2% | 31.2% |
| Vacancy Rate | 6.4% | 12.5% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
South Valley has a homeownership rate of 70.7%, higher than the New Mexico average of 61.3%. Its housing vacancy rate is 6.4%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | South Valley | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.82 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1971 | 1983 | 1978 |
| Median Number of Rooms | 5.6 | 5.3 | 5.5 |
The typical housing unit in South Valley was built around 1971. On average, 2.8 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
South Valley, NM Housing Compared With Nearby Cities
How South Valley, NM compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| South Valley, NM | 36,142 | $300,076 #1/2 | $957 #2/2 | 75.6% #1/2 |
| Albuquerque, NM | 517,565 | $254,746 | $1,135 | 61.2% |
Frequently Asked Questions
Common questions about the housing market in South Valley, New Mexico.
What is the median home price in South Valley, New Mexico?
The median home price in South Valley, New Mexico is $300,076, higher than the New Mexico average of $204,122.
What is the average home price in South Valley, New Mexico?
The typical home price in South Valley, New Mexico, reported as the median sale price, is $300,076. 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 South Valley, New Mexico?
The median gross rent in South Valley, New Mexico is $957 per month, lower than the New Mexico average of $1,067.
What was the median gross rent in South Valley in 2020?
In 2020, the median gross rent in South Valley, New Mexico was $742 per month.
What is the price-to-rent ratio in South Valley, New Mexico?
The price-to-rent ratio in South Valley, New Mexico is about 26.1, meaning it would take roughly 26.1 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 South Valley.
Are home prices or rent rising faster in South Valley, New Mexico?
Both home prices and rent are rising in South Valley, up about 10.5% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in South Valley, New Mexico?
70.7% of households in South Valley, New Mexico own their home, higher than the New Mexico average of 61.3%.
What is the vacancy rate in South Valley, New Mexico?
The housing vacancy rate in South Valley, New Mexico is 6.4%, lower than the New Mexico average of 12.5%.
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