88004, Las Cruces, NM

Las Cruces is located in the 88004 zip code. According to the 2016 American Community Survey, the median household income in this zip code is $36,527. The median home value is $119,000. Home equity and home prices have been on the rise in Las Cruces over the past few years. In March of 2017, home equity increased by 2.2% compared to March of 2016. Home prices increased by 5% from March of 2016 to March of 2017.

The increase in home equity and home prices can be attributed to a number of factors including an increase in population, an increase in demand for housing, and low interest rates. Additionally, Las Cruces has seen a resurgence in economic growth over the past few years which has led to an increase in jobs and wages. This has resulted in more people being able to afford homes and invest their money into their homes instead of saving it or using it for other purposes.

Overall, homeownership rates are high in Las Cruces which contributes to the increase in home values and home equity. Additionally, there is a strong demand for housing due to an increasing population and economy which leads to higher prices for available properties. While there are some risks associated with investing money into homes such as potential market crashes or decreases in property values, overall homeownership rates are high which contributes to stability within the housing market