88116, Elida, NM

The 88116 zip code of Elida, 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 $128,900, which is significantly higher than the statewide median home value of $103,500. In addition, the average home equity in this zip code is $111,700, which is also significantly higher than the statewide average home equity of $77,200.

There are a number of factors that may contribute to these high home values and high home equity in the 88116 zip code of Elida. First and foremost, this area has a low unemployment rate (3.8%) and strong economy with plenty of jobs available. Additionally, there are relatively few homes for sale in this zip code compared to other areas of New Mexico and neighboring states. This may be due to its close proximity to Albuquerque (just over an hour away), as well as strong demand from families who want quality homes within easy reach of both urban amenities and outdoor recreation opportunities.

Overall, it appears that homeownership rates and home values in the 88116 zip code are very high relative to other areas of New Mexico and across the U.S., which may indicate strong demand from local residents for quality homes. If you are interested in purchasing or investing in a property in this area, it would likely be wise to do your research first so you can make an informed decision about whether or not this is the right location for you!