Market Overview
Home Prices in Cerrillos, NM
The median home value in Cerrillos, NM is $391,426 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.3% compared to a year ago and down 0.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cerrillos are priced5% below average. Cerrillos is part of the Santa Fe, NM metro area.
Over the past five years, Cerrillos home values have risen by approximately4.9%, reflecting modest growth in this market.
Price History
Cerrillos Home Price Trend
City Comparison
Cerrillos vs. National Median
At $391,426, homes in Cerrillos cost 5% below the national median of $410,000. This makes Cerrillos a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cerrillos?
20% Down Payment
$78,285
on $391,426
Monthly P&I
$2,041/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,592/mo
incl. taxes & insurance
Income Needed
$103,680
gross annual (30% rule)
10% Down Option
$39,143
+ PMI applies
Loan Amount (20% dn)
$313,141
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 Cerrillos, NM?
The median home value in Cerrillos is $391,426 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.3% year-over-year.
How much have home prices changed in Cerrillos?
Over the past year, home values in Cerrillos have increased by 1.3%. Over five years, prices have risen approximately 4.9%.
How much do I need to earn to buy a home in Cerrillos?
To comfortably afford the median home price of $391,426 with a 20% down payment ($78,285) at today's rates (6.8%), you'd need a gross annual income of approximately $103,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Cerrillos compare to the national average home price?
The national median home value is approximately $410,000. At $391,426, homes in Cerrillos are 5% below the national average.
What metro area is Cerrillos part of?
Cerrillos is part of the Santa Fe, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.