The story of this market
The typical home in ZIP 87023 sells for about $485,000, or $245 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,650 a month.
ZIP 87023 — Jarales
The housing market in 87023 is characterized by low inventory and stable, high-value pricing driven by its appeal as a recreational destination. Sales volume remains low due to the small population base and limited turnover of residential properties. Market conditions are currently stable with no significant new development pipeline reported.
This ZIP is best suited for retirees, outdoor enthusiasts, and second-home buyers seeking proximity to nature rather than daily commuters.
Median prices moved up 3.2% year over year.
Homes spend a median of 42 days on market with 4.5 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 6.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 87023, Sandoval County NM
The area is subject to wildfire risk common to the Jemez Mountains region and requires standard fire-mitigation insurance considerations.
Economic momentum is driven by tourism, outdoor recreation, and local small-scale services, with limited large-scale industrial development.
Property taxes are assessed by Sandoval County based on the state's millage rate structure; no specific local special districts are reported for this ZIP.
Commuting to the Albuquerque employment core typically requires a drive of approximately 60-75 minutes via NM-4 and I-25.
The area is defined by proximity to the Jemez National Recreation Area, offering extensive hiking, hot springs, and mountain trails.
The rental market is limited in depth, primarily consisting of seasonal or short-term vacation rentals due to the area's recreational nature.
The local economy is heavily reliant on tourism, hospitality, and small-scale service industries serving the Jemez Springs area.
Public transit is not available; the area relies entirely on private vehicle access via state highway corridors.
No major commercial or residential developments are currently approved or under construction in this ZIP.
Sandoval County Assessor manages property valuations with periodic reappraisals based on market sales data.
Parcels are served by the Jemez Mountain Public School District and local utility cooperatives.
Property insurance premiums are elevated due to high wildfire risk exposure in the Jemez Mountains.
Data retrieved from Census Bureau ZCTA-level tables.
- Fat Sats Bar and Grill4.27.1 mi
- Tomé Hill Park4.511.3 mi
- Harvey House Museum4.64.4 mi
- Whitfield Wildlife Conservation Area4.65.2 mi
- Anna Becker Park4.14.6 mi
- Harvey House Museum4.64.4 mi
- Tomé Hill Park4.511.3 mi
- Eagle Park4.35 mi
- Whitfield Wildlife Conservation Area4.65.2 mi
- Anna Becker Park4.14.6 mi
- Tierra Del Sol Golf Club3.93.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Major regional attraction for hiking and scenic views.
Historic local attraction utilizing natural geothermal waters.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.