Market Overview
Home Prices in Chaparral, NM
The median home value in Chaparral, NM is $216,185 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.8% compared to a year ago and up 4.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Chaparral are priced47% below average. Chaparral is part of the Las Cruces, NM metro area.
Over the past five years, Chaparral home values have risen by approximately27.0%, reflecting strong long-term appreciation in this market.
Price History
Chaparral Home Price Trend
City Comparison
Chaparral vs. National Median
At $216,185, homes in Chaparral cost 47% below the national median of $410,000. This makes Chaparral a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Chaparral?
20% Down Payment
$43,237
on $216,185
Monthly P&I
$1,127/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,431/mo
incl. taxes & insurance
Income Needed
$57,240
gross annual (30% rule)
10% Down Option
$21,619
+ PMI applies
Loan Amount (20% dn)
$172,948
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 Chaparral, NM?
The median home value in Chaparral is $216,185 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.8% year-over-year.
How much have home prices changed in Chaparral?
Over the past year, home values in Chaparral have decreased by 2.8%. Over five years, prices have risen approximately 27.0%.
How much do I need to earn to buy a home in Chaparral?
To comfortably afford the median home price of $216,185 with a 20% down payment ($43,237) at today's rates (6.8%), you'd need a gross annual income of approximately $57,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Chaparral compare to the national average home price?
The national median home value is approximately $410,000. At $216,185, homes in Chaparral are 47% below the national average.
What metro area is Chaparral part of?
Chaparral is part of the Las Cruces, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.