Las Cruces housing market: home prices, trends and forecast
Las Cruces home prices: the Zillow Home Value Index shows a typical home in Las Cruces, New Mexico at $287,447 for September 2026, −0.9% lower than a year earlier and −1.4% lower than the peak of $291,518 set in November 2024.
- Value of the typical home
- $287,447September 2026, Zillow ZHVI
- Change over 12 months
- −0.9% since September 2025.
Las Cruces home prices since 2000
The steel line marks Las Cruces; the grey line marks the United States. From April 2002 to now, the typical Las Cruces home has risen from $152,699 to $287,447, a change of ×1.88, while the US recorded ×2.58 over those same months. Prices peaked during the boom in June 2008 at $232,808, then hit a low in December 2013 at $170,363, −26.8%.
Annual median home prices for Las Cruces
Each year averages its twelve monthly values; for 2026 the latest month is shown.
| Year | Las Cruces | Change on the year | United States |
|---|---|---|---|
| 2003 | $159,033 | $155,308 | |
| 2004 | $170,465 | +7.2% | $169,891 |
| 2005 | $189,613 | +11.2% | $189,732 |
| 2006 | $212,128 | +11.9% | $206,531 |
| 2007 | $229,500 | +8.2% | $208,449 |
| 2008 | $231,246 | +0.8% | $195,574 |
| 2009 | $213,073 | −7.9% | $177,542 |
| 2010 | $193,211 | −9.3% | $171,462 |
| 2011 | $176,192 | −8.8% | $162,508 |
| 2012 | $173,027 | −1.8% | $161,137 |
| 2013 | $171,334 | −1.0% | $171,420 |
| 2014 | $169,139 | −1.3% | $182,996 |
| 2015 | $167,634 | −0.9% | $192,738 |
| 2016 | $168,208 | +0.3% | $204,509 |
| 2017 | $169,770 | +0.9% | $216,767 |
| 2018 | $175,466 | +3.4% | $230,541 |
| 2019 | $181,540 | +3.5% | $242,088 |
| 2020 | $192,341 | +5.9% | $257,151 |
| 2021 | $220,488 | +14.6% | $295,959 |
| 2022 | $259,152 | +17.5% | $340,014 |
| 2023 | $280,779 | +8.3% | $348,160 |
| 2024 | $288,894 | +2.9% | $359,751 |
| 2025 | $290,464 | +0.5% | $362,959 |
| September 2026 | $287,447 | −0.9% | $366,157 |
What a home bought in Las Cruces in any year is worth now
An index-based estimate for a typical home and not an appraisal.
For each year, the figure averages its twelve monthly index values; today's value is September 2026. Other options: home appreciation calculator.
Thinking about selling? Compare local agents through Realtor.com. Advertising disclosure: links like this one may pay the site; it never changes a number. Disclosure.
Las Cruces housing market forecast
Over the 12 months from September 2026, Zillow's forecast puts the Las Cruces, NM metro at +1.1%; for the three months from that same starting month it gives +0.2%. Applying that to Las Cruces's typical value, $287,447, would land near $290,600 a year on.
Zillow's central estimate for the metro is restated here; this site does not publish a forecast of its own. This kind of 12-month forecast has typically landed several percentage points off the realised change, in both directions. No investment advice is given here.
All metro forecasts sit in one table: housing market forecast.
Las Cruces housing market crash risk score
Rated high: 70 out of 100.
Against the 292 cities, Las Cruces is ranked on five conditions that ran high ahead of past price falls. Each input is scored from 0 to 100 compared with the other cities; the five results are then averaged with equal weight. It shows conditions as they are now; it does not predict a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | +49.8% | 88 | 20% |
| Days on the market vs 2019 | +38.8% | 91 | 20% |
| Price-to-rent ratio | 16.6 | 41 | 20% |
| Price-to-income ratio | 4.9 | 51 | 20% |
| 12-month price change | −0.9% | 77 | 20% |
Nothing here is investment advice. How the inputs get scored: methodology. Every one of the 292 cities ranked: city crash risk.
Las Cruces inventory and days on market
In September 2026 the Las Cruces, NM metro listed 1,005 homes for sale, +22.5% above one year earlier and +49.8% above September 2019. Listings sold after a median of 93 days (+38.8% against 2019), and a price cut appeared on 29.2% of listings.
| Las Cruces, NM metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 1,005 | +22.5% |
| New listings | 264 | |
| Median days on market | 93 | +32.1% |
| Median list price | $366,475 | −2.3% |
| Share with a price cut | 29.2% |
Metro inventory data comes from Realtor.com® Economic Research. Realtor.com. All metros: days on market by city.
Rent and cost of living in Las Cruces
Asking rent in Las Cruces is typically $1,439 a month, +1.9% on a year, according to the Zillow Observed Rent Index. Paying that rent for 16.6 years would equal the cost of the typical home. A median household income of $58,871 (Census ACS 2024) puts the typical home at 4.9 times a year's income. Prices in the metro come in at 90.2 on the BEA scale, where the US average is 100 and housing costs are 63.0.
More housing markets in New Mexico
- $344,199 for Albuquerque.
- $576,890 for Santa Fe.
For the whole state: New Mexico housing market.
How to read this chart
Each point shows the Zillow Home Value Index for Las Cruces: what a typical home in the market's middle third was worth, smoothed and seasonally adjusted, in that month's dollars. The month selected on the slider appears as a hollow dot, while the latest month appears as a terracotta dot. These numbers are not adjusted for inflation. An index tracks the typical home rather than any one house, so use the card above, or the home appreciation calculator, to work out the value of a single home from its own sale price.