87532, Espanola, NM

The 87532 zip code of Espanola, NM is located in the northwestern corner of the state and includes a population of just over 10,000 people. The median home value in this zip code is $119,000, which is significantly lower than the statewide median home value of $217,500. However, despite this lower median home value, the 87532 zip code ranks tenth out of all 505 zip codes in New Mexico in terms of percentage increase in home values from 2010 to 2016. This indicates that there are a number of homeowners who have seen their homes appreciate in value over that time period.

One reason for this appreciation may be that Espanola is located within close proximity to both Albuquerque and Santa Fe. These two major metropolitan areas are likely drawing buyers and sellers to the area, driving up prices and making it more difficult for potential homeowners to find comparable properties. Additionally, Espanola has been experiencing strong job growth over the past few years which may also be contributing to increased demand for housing units.

Despite these positive trends, there are still a number of homeowners who are struggling to afford homes in the 87532 zip code. In fact, according to Zillow’s 2018 Home Value Index report, approximately one-third (33%)of households living in this zip code fall below the poverty line – which is higher than both statewide (25%)and national (21%)rates. This suggests that there are a significant number of residents who are struggling financially and may be unable to take advantage of rising home values due to their limited income resources.