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Grants city, NM

ZIP 87020 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 87020

Median Home Value
$154,900
Median Rent
$573
Affordability Snapshot
$43,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$995/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

22.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 87020 in Grants city, NM, a household would need roughly $43,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $995. That sits below the local median household income ($67,511), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 15% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
63.9%-2% vs US avg
x
Vacancy Rate
15.2%+48% vs US avg
x
Broadband Access
79.8%-8% vs US avg
x
4+ Bedrooms
1.2%-92% vs US avg
x
Built Pre-1939
2.2%-83% vs US avg
x
Built Post-2014
1.2%-82% vs US avg
x
Rent Burden >30%
26.4%-47% vs US avg
x
Mortgage-Free
47.1%+23% vs US avg
x
$154,900
Home Value
$573
Rent
1977
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached60.2%
  • 1-unit attached1.5%
  • 2-9 units16.6%
  • 10+ units3.4%
  • Mobile home & other18.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$154,900
Median rent$573
Owner-occupied63.9%
Vacant15.2%
Price-to-income2.3x
Est. income to buy$43,000