Santa Fe, NM Real Estate Data

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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 Housing Market Information

With a population of 84,683, 35,593 total housing units (homes and apartments), and a median house value of $365,287, 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 56.68% of the city's housing units. Other types of housing that are prevalent in Santa Fe include large apartment complexes or high rise apartments ( 16.87%), duplexes, homes converted to apartments or other small apartment buildings ( 8.83%), and a few mobile homes or trailers ( 8.80%).

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 60.88% owning and 39.12% 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 ( 21.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.54%). There's also some housing in Santa Fe built before 1939 ( 7.93%).

Vacant housing appears to be an issue in Santa Fe. Fully 14.51% 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 30.71%, which ranks in the top 50% nationwide. This equates to an annual average Santa Fe house appreciation rate of 2.71%.

NeighborhoodScout's data show that during the latest twelve months, Santa Fe's appreciation rate, at 4.83%, has been at or slightly above the national average. In the latest quarter, Santa Fe's appreciation rate has been 1.03%, which annualizes to a rate of 4.17%.

Relative to New Mexico, our data show that Santa Fe's latest annual appreciation rate is lower than 50% 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

 
info

Median Home Value:
$365,287

Santa Fe, NM HOME PRICES

> $1,293,000
4.3%
4.3%
$970,001 - $1,293,000
4.2%
4.2%
$647,001 - $970,000
10.1%
10.1%
$517,001 - $647,000
7.8%
7.8%
$388,001 - $517,000
17.7%
17.7%
$259,001 - $388,000
29.2%
29.2%
$129,001 - $259,000
17.6%
17.6%
$65,001 - $129,000
3.0%
3.0%
$0 - $65,000
6.1%
6.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for NM

Value Relative To Nation

Number Of Homes And Apartments:
35,593

Santa Fe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
84.74% 3.00%
7
7
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,471 / per month

Homeownership Rate

Owners
60.9%
60.9%
Renters
39.1%
39.1%
Vacant
14.5%
14.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
20.5%
20.5%
1970 - 1999
50.5%
50.5%
1940 - 1969
21.1%
21.1%
1939 or Older
7.9%
7.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.7%
56.7%
Townhomes
8.8%
8.8%
Small Apt. Buildings
8.8%
8.8%
Apt. Complexes
16.9%
16.9%
Mobile Homes
8.8%
8.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.5%
3.5%
1 Bedroom
11.8%
11.8%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
39.6%
39.6%
4 Bedrooms
10.4%
10.4%
5 or more bedrooms
1.8%
1.8%
0.0% 100.0%
% OF HOMES