87062, Veguita, NM

The 87062 zip code of Veguita, NM has a median home value of $128,000 and a median home equity value of $86,000. The average home size in the 87062 zip code is 2,500 square feet. Approximately one-third (33%) of homes in the 87062 zip code are owner-occupied while two-thirds (67%) are occupied by renters. Home values have increased an average of 9% each year since 2000. In addition to the increase in home values, there has been an increase in the number of homes available for sale as well as an increase in the number of homes being sold. This indicates that there is strong demand for housing within the 87062 zip code.

The average monthly mortgage payment for a house in the 87062 zip code is $1,521 which is lower than the national average monthly mortgage payment of $1,729. The percentage of mortgages that are 30 or more years old is lower than the national percentage of mortgages that are 30 or more years old at 27%. This indicates that homeownership rates within this area are high and likely to continue to be high due to low interest rates and limited availability of affordable housing options.