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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Santa Fe, NM Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Santa Fe, NM Housing Market Trends

With a population of 89,008, 37,878 total housing units (homes and apartments), and a median house value of $431,210, Santa Fe real estate is some of the most expensive in New Mexico, although Santa Fe home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Santa Fe, accounting for 58.28% of the city's housing units. Other types of housing that are prevalent in Santa Fe include large apartment complexes or high rise apartments ( 14.19%), row houses and other attached homes ( 10.22%), and a few mobile homes or trailers ( 8.82%).

The most prevalent building size and type in Santa Fe are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.78% owning and 37.22% renting.

There is a lot of housing in Santa Fe built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Santa Fe built between 1940-1969 ( 22.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.45%). There's also some housing in Santa Fe built before 1939 ( 6.93%).

Vacant housing appears to be an issue in Santa Fe. Fully 13.18% of the housing stock is classified as vacant. Left unchecked, vacant Santa Fe homes and apartments can be a drag on the real estate market, holding Santa Fe real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Santa Fe Home Appreciation Rates

Appreciation rates for homes in Santa Fe have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.24%, which ranks in the top 30% nationwide. This equates to an annual average Santa Fe house appreciation rate of 7.14%.

Over the last year, Santa Fe appreciation rates have trailed the rest of the nation. In the last twelve months, Santa Fe's appreciation rate has been 1.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Santa Fe were at 1.31%, which equates to an annual appreciation rate of 5.34%.

Notably, Santa Fe's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Mexico, our data show that Santa Fe's latest annual appreciation rate is lower than 90% of the other cities and towns in New Mexico.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Santa Fe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Santa Fe - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Santa Fe real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$431,210

Santa Fe, NM Home Prices
> $1,464,000
$1,098,001 - $1,464,000
$732,001 - $1,098,000
$586,001 - $732,000
$439,001 - $586,000
$293,001 - $439,000
$146,001 - $293,000
$73,001 - $146,000
$0 - $73,000
5.4%
5.4%
5.6%
5.6%
12.5%
12.5%
8.7%
8.7%
19.0%
19.0%
25.3%
25.3%
13.9%
13.9%
2.2%
2.2%
7.4%
7.4%
0% 100.0%
% of Homes
Very High

for New mexico

Very High

for nation

Number of Homes And Apartments:

37,878

Santa Fe Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,194 / per month

Homeownership Rate

Owners
Renters
Vacant
62.8%
62.8%
37.2%
37.2%
13.2%
13.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.5%
21.5%
49.5%
49.5%
22.1%
22.1%
6.9%
6.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.3%
58.3%
10.2%
10.2%
8.5%
8.5%
14.2%
14.2%
8.8%
8.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
11.7%
11.7%
31.6%
31.6%
41.7%
41.7%
9.2%
9.2%
2.3%
2.3%
0% 100.0%
% of Homes