Market Overview
Home Prices in Caballo, NM
The median home value in Caballo, NM is $185,537 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.7% compared to a year ago and down 4.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Caballo are priced55% below average.
Over the past five years, Caballo home values have fallen by approximately2.0%, reflecting softening conditions in this market.
Price History
Caballo Home Price Trend
2020
$167,600
$168K
—
2021
$189,391
$189K
+13.0%
2022
$212,058
$212K
+12.0%
2023
$215,082
$215K
+1.4%
2024
$197,187
$197K
-8.3%
2025
$188,732
$189K
-4.3%
2026
$185,537
$186K
-1.7%
City Comparison
Caballo vs. National Median
🏠 Caballo
$185,537
National Median
$410,000
At $185,537, homes in Caballo cost 55% below the national median of $410,000. This makes Caballo a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Caballo?
20% Down Payment
$37,107
on $185,537
Monthly P&I
$968/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,229/mo
incl. taxes & insurance
Income Needed
$49,160
gross annual (30% rule)
10% Down Option
$18,554
+ PMI applies
Loan Amount (20% dn)
$148,430
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Caballo, NM?
The median home value in Caballo is $185,537 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.7% year-over-year.
How much have home prices changed in Caballo?
Over the past year, home values in Caballo have decreased by 1.7%. Over five years, prices have fallen approximately 2.0%.
How much do I need to earn to buy a home in Caballo?
To comfortably afford the median home price of $185,537 with a 20% down payment ($37,107) at today's rates (6.8%), you'd need a gross annual income of approximately $49,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Caballo compare to the national average home price?
The national median home value is approximately $410,000. At $185,537, homes in Caballo are 55% below the national average.