Market Overview
Home Prices in Las Cruces, NM
The median home value in Las Cruces, NM is $291,884 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.4% compared to a year ago and up 0.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Las Cruces are priced29% below average. Las Cruces is part of the Las Cruces, NM metro area.
Over the past five years, Las Cruces home values have risen by approximately32.5%, reflecting strong long-term appreciation in this market.
Price History
Las Cruces Home Price Trend
City Comparison
Las Cruces vs. National Median
At $291,884, homes in Las Cruces cost 29% below the national median of $410,000. This makes Las Cruces a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Las Cruces?
20% Down Payment
$58,377
on $291,884
Monthly P&I
$1,522/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,933/mo
incl. taxes & insurance
Income Needed
$77,320
gross annual (30% rule)
10% Down Option
$29,188
+ PMI applies
Loan Amount (20% dn)
$233,507
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 Las Cruces, NM?
The median home value in Las Cruces is $291,884 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.4% year-over-year.
How much have home prices changed in Las Cruces?
Over the past year, home values in Las Cruces have decreased by 0.4%. Over five years, prices have risen approximately 32.5%.
How much do I need to earn to buy a home in Las Cruces?
To comfortably afford the median home price of $291,884 with a 20% down payment ($58,377) at today's rates (6.8%), you'd need a gross annual income of approximately $77,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Las Cruces compare to the national average home price?
The national median home value is approximately $410,000. At $291,884, homes in Las Cruces are 29% below the national average.
What metro area is Las Cruces part of?
Las Cruces is part of the Las Cruces, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.