88007, Las Cruces, NM

Las Cruces is located in the southwestern corner of New Mexico, and it has a population of just over 100,000 people. The Las Cruces metropolitan area has a population of just over 300,000 people. Home equity and home prices in Las Cruces are among the highest in the state.

The median home price in Las Cruces is $191,500, which is higher than the statewide median home price of $157,600. The median home value in Las Cruces increased by 9% from 2016 to 2017. The average monthly mortgage payment for a house in Las Cruces is $1,077.

Las Cruces has a relatively low unemployment rate of 3%. However, wages are relatively low compared to other cities in New Mexico. The average wage in Las Cruces is just under $27 an hour. This means that many families are struggling to afford homes in Las Cruces on their own income alone.

One reason why home prices and equity have been so high in Las Cruces is because there has been very little growth or development within the city limits over the past few years. This means that there are not many new homes being built or sold, which drives up prices and equity values.