88355, Ruidoso, NM

Ruidoso is a small town in the mountains of southern New Mexico. The population was just over 10,000 in 2010. Ruidoso has a long history as a mining town, and the economy is still heavily dependent on mining and ranching. However, there has been an increase in tourism over the past few years, and this is likely to continue as Ruidoso becomes better known.

The median home value in the 88355 zip code was $101,200 in 2016. This is significantly lower than the statewide median home value of $212,500 but it is higher than the national median home value of $77,700. The average home price in this zip code increased by 7% from 2015 to 2016 but it remains below the statewide average growth rate of 11%. There are a number of reasons why home prices might be lower here than elsewhere in New Mexico or nationally. One reason may be that there are relatively few homes for sale compared to other areas of the state or country. Another may be that many homes here are older and not well maintained, which could lead to lower values.

Despite these limitations, there are some indications that prices are beginning to rise faster than they have previously done in this zip code. In particular, there has been an increase in sales activity over recent months and this suggests that buyers are becoming more interested in purchasing homes here. If this trend continues then prices should gradually increase over time as more homes come onto the market