87551, Los Ojos, NM

The 87551 zip code of Los Ojos, NM is located in the northwestern corner of the state and is home to a population of just over 10,000 people. The median household income in this zip code is just under $50,000, which is lower than the statewide median income of $60,000. The percentage of households that are renters is significantly higher than the statewide percentage of renters at nearly two-thirds (65%).

Home prices in this zip code have been on a steady decline for the past few years. In January 2018, the median home price was $142,500 which was down from $158,900 in January 2017. Over the past twelve months, home prices have decreased by 7%. Despite these declines, however, home prices remain above their pre-recession levels and are still considerably higher than they were five years ago.

One reason why home prices have remained relatively high despite declining values is that there are still a lot of homes available for purchase in this zip code. In January 2018 there were 2,527 homes for sale compared to 2,253 homes for sale five years earlier. Additionally, there has been an increase in listings over the past year as more people decide to sell their homes rather than wait for prices to decrease further.