US5.com
  1. Home
  2. States
  3. New Mexico
  4. ZIP 87942
  5. Housing & Real Estate
Las Palomas CDP, NM

ZIP 87942 — Housing & Real Estate

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

Working ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 87942

Median Home Value
$105,900
Median Rent
$519
Affordability Snapshot
$29,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$680/mo PITI).

16%
Rent-to-Income Ratio

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

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

17.0 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 87942 in Las Palomas CDP, NM, a household would need roughly $29,000 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 $680. That sits below the local median household income ($39,792), 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 32% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
79.0%+21% vs US avg
x
Vacancy Rate
32.1%+212% vs US avg
x
Broadband Access
90.6%+4% vs US avg
x
4+ Bedrooms
0.0%
x
Built Pre-1939
0.8%-94% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
1.0%-98% vs US avg
x
Mortgage-Free
63.8%+67% vs US avg
x
$105,900
Home Value
$519
Rent
1984
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached33.1%
  • 1-unit attached0.0%
  • 2-9 units0.0%
  • 10+ units0.0%
  • Mobile home & other66.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$105,900
Median rent$519
Owner-occupied79.0%
Vacant32.1%
Price-to-income2.7x
Est. income to buy$29,000