87554, Petaca, NM

The 87554 zip code of Petaca, NM is located in the northwestern corner of the state and has a population of just over 2,000. The median household income in this zip code is $51,500, which is significantly lower than the statewide median household income of $71,000. The percentage of households earning less than $25,000 is also high at 34%.

Despite these challenges, there are some positive signs for home buyers in the 87554 zip code. For example, the average home value in this area is only $128,500 which is much lower than the statewide average home value of $248,200. Additionally, homes in this zip code are typically available for sale within just two weeks after being listed which is much faster than the statewide average time frame of six weeks.

Despite these positives however, there are also some concerning trends that should be considered when looking to buy or sell a home in the 87554 zip code. For example, according to Zillow’s Home Value Index data from January 2018*, Petaca ranks as one of the most expensive zip codes in New Mexico with an average home value of $269,600. Additionally*, Zillow’s data shows that homes have been selling at a slower rate since 2016* which could indicate that there may be too many homes on the market and not enough buyers interested in purchasing them.

Overall though it seems that while there are some challenges facing homeownership within this particular area there are still opportunities for those who are willing to work hard and find a good deal on a property.