Market Overview
Home Prices in Gallup, NM
The median home value in Gallup, NM is $222,789 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.2% compared to a year ago and up 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gallup are priced46% below average. Gallup is part of the Gallup, NM metro area.
Over the past five years, Gallup home values have risen by approximately8.9%, reflecting steady appreciation in this market.
Price History
Gallup Home Price Trend
2020
$185,239
$185K
—
2021
$204,616
$205K
+10.5%
2022
$213,651
$214K
+4.4%
2023
$214,037
$214K
+0.2%
2024
$220,792
$221K
+3.2%
2025
$225,515
$226K
+2.1%
2026
$222,789
$223K
-1.2%
City Comparison
Gallup vs. National Median
🏠 Gallup
$222,789
National Median
$410,000
At $222,789, homes in Gallup cost 46% below the national median of $410,000. This makes Gallup a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gallup?
20% Down Payment
$44,558
on $222,789
Monthly P&I
$1,162/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,476/mo
incl. taxes & insurance
Income Needed
$59,040
gross annual (30% rule)
10% Down Option
$22,279
+ PMI applies
Loan Amount (20% dn)
$178,231
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 Gallup, NM?
The median home value in Gallup is $222,789 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.2% year-over-year.
How much have home prices changed in Gallup?
Over the past year, home values in Gallup have decreased by 1.2%. Over five years, prices have risen approximately 8.9%.
How much do I need to earn to buy a home in Gallup?
To comfortably afford the median home price of $222,789 with a 20% down payment ($44,558) at today's rates (6.8%), you'd need a gross annual income of approximately $59,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Gallup compare to the national average home price?
The national median home value is approximately $410,000. At $222,789, homes in Gallup are 46% below the national average.
What metro area is Gallup part of?
Gallup is part of the Gallup, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.