The median home value in ZIP Code 87505 (Santa Fe, NM) is $331,300. Approximately 60.9% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 2.9%.
The average occupancy of owner-occupied units in ZIP Code 87505 is 2.20 occupants, while owner-occupied units have an aggregate average size of 2.42 bedrooms per housing unit.
In the 87505 ZIP Code, an estimated 39.1% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 7.7%.
Among renter-occupied units in this ZIP, the average occupancy is 1.93 occupants, while renters in this Santa Fe County region spend an average of 0% of their income on housing rental costs.
See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 87505.
| ZIP 87505 | New Mexico | U.S. | |
|---|---|---|---|
| Median Home Value | $331,300 | $309,382 | $356,002 |
| Owner-Occupied Housing Units | 60.9% | 67.7% | 64.0% |
| Homeowner Vacancy Rate | 2.9% | 2.2% | 1.6% |
| Average Size of Owner-Occupied Unit | 2.20 | 2.68 | 2.70 |
| Average # of Bedrooms Per Unit | 2.42 | 2.7 | 2.75 |
| Median Housing Rent | $0 | $844 | $1,062 |
| Renter-Occupied Housing Units | 39.1% | 32.3% | 36.0% |
| Rental Vacancy Rate | 7.7% | 8.6% | 6.0% |
| Average Size of Renter-Occupied Unit | 1.93 | 2.52 | 2.49 |
| Percent of Income Spent on Rent | 0% | 29.35% | 29.83% |
The median home value in ZIP Code 87505 is $331,300. That median value is about 93% higher than the median home value of $171,400 in New Mexico overall, and is 52% higher than the $217,500 the median home value in the entire U.S. About 27.5% of homes in ZIP Code 87505 are valued $300,000 to $499,999. That is 104% higher than in the state of New Mexico, in which 13.5% of homes are valued at $300,000 to $499,999, and is about 42% higher than in the U.S. overall (19.3% of homes valued at $300,000 to $499,999). The home value range that the smallest portion of ZIP Code 87505 homes fall into is less than $50,000 (1.2% of homes).
This chart visualizes the breakdown of home values in ZIP Code 87505, New Mexico, and also in the U.S. overall.
See the table below for a regional comparison of home values in ZIP Code 87505.
| Home Value | ZIP 87505 | New Mexico | U.S. |
|---|---|---|---|
| Less than $50,000 | 1.2% | 10.9% | 6.9% |
| $50,000 to $99,999 | 4.0% | 13.4% | 12.0% |
| $100,000 to $149,999 | 4.6% | 16.3% | 13.3% |
| $150,000 to $199,999 | 10.9% | 18.9% | 14.0% |
| $200,000 to $299,999 | 23.5% | 20.8% | 19.6% |
| $300,000 to $499,999 | 27.5% | 13.5% | 19.3% |
| $500,000 to $999,999 | 22.1% | 4.8% | 11.4% |
| $1,000,000 or more | 6.2% | 1.4% | 3.4% |
Approximately 19.7% of homes in this Santa Fe, NM region were built in 1980 to 1989. This amount of homes built in 1980 to 1989 in ZIP Code 87505 is about 15% higher than percentage of homes built in this time period in New Mexico overall (17.1% of homes), and is 47% higher the percentage (13.4% of homes) in the U.S. as a whole. Additionally, an esimated 19.0% of local homes were built in 1970 to 1979. On the other end of the scale, just 0.7% of homes in this Santa Fe County ZIP Code were built in 2014 or later in ZIP Code 87505. In comparison, 1.8% of homes in New Mexico overall were built in 2014 or later, while 2.5% of all U.S. homes were built in this time period.
A detailed regional comparison of home ages in ZIP Code 87505.
| Year Built | ZIP 87505 | New Mexico | U.S. |
|---|---|---|---|
| 2014 or later | 0.7% | 1.8% | 2.5% |
| 2010 to 2013 | 1.6% | 2.6% | 2.7% |
| 2000 to 2009 | 10.1% | 15.3% | 14.0% |
| 1990 to 1999 | 14.5% | 17.6% | 13.9% |
| 1980 to 1989 | 19.7% | 17.1% | 13.4% |
| 1970 to 1979 | 19.0% | 17.5% | 15.2% |
| 1960 to 1969 | 8.8% | 10.0% | 10.6% |
| 1950 to 1959 | 10.2% | 9.6% | 10.3% |
| 1940 to 1949 | 6.1% | 4.1% | 4.9% |
| 1939 or earlier | 9.2% | 4.4% | 12.6% |
See the chart below for details on the age of homes in ZIP Code 87505, New Mexico, and also in the U.S. overall. Data here refers to years that homes were built.
Frequently asked questions about housing in this Santa Fe, NM ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 87505.
