The story of this market
The typical home in ZIP 87501 sells for about $849,000, or $465 per square foot.
Prices are up +11.8% from a year ago, so sellers still have some momentum. Homes take about 56 days to sell. HUD's fair market rent for a two-bedroom is $1,600 a month.
ZIP 87501 — Santa Fe
The 87501 housing market remains resilient with a median price of $849K, reflecting steady demand despite broader economic headwinds. While inventory is tight, the market is seeing moderate price appreciation and a healthy sale-to-list ratio. Investors should note the high price-to-rent ratio and vacancy pressures, which require careful management.
This ZIP is ideal for professionals, retirees, and those seeking a blend of historic charm and outdoor access. It is less suited for budget-conscious buyers due to the high median price point.
Median prices moved up 11.8% year over year.
Homes spend a median of 56 days on market with 4.2 months of supply — a fast-moving market.
19% of listings have cut prices · homes sell at 97.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.1% · poverty 11.2% — 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 6.4%/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 5.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 87501, Santa Fe County, NM
Crime rates in Santa Fe are generally consistent with regional averages for a city of its size, with property crime being the primary concern. Residents are advised to maintain standard security precautions as trends remain stable.
The area is served by Santa Fe Public Schools, which offers a mix of traditional and magnet programs. School quality varies significantly by specific neighborhood and program focus.
The region faces moderate wildfire risk due to its high-desert environment and proximity to forested areas. Flood risk is generally low but localized to specific drainage basins.
Economic momentum is driven by tourism, government, and the arts, with ongoing development focused on historic preservation and sustainable infill. Major employers include the State of New Mexico and local healthcare systems.
Property taxes are assessed by Santa Fe County based on the property's taxable value, with rates determined by local mill levies. Exemptions are available for primary residences and seniors.
Commuting within the area is primarily car-dependent, though the city offers limited public transit options. Access to major employment hubs is generally efficient via local arterial roads.
The area features extensive access to the Santa Fe River Trail, numerous city parks, and proximity to the Sangre de Cristo Mountains for hiking and skiing. Shopping and dining are concentrated in the historic downtown plaza area.
The rental market is characterized by high demand and limited supply, with significant pressure from short-term rental activity. Vacancy rates remain low, keeping upward pressure on rents.
The economy is anchored by state government, tourism, and the arts. The area maintains a stable employment base with a focus on professional services and hospitality.
Transportation is primarily served by a network of local roads and highways, with limited public transit connectivity. Commute times are generally short due to the compact nature of the city.
Development is strictly regulated by historic preservation ordinances, limiting large-scale new construction in favor of adaptive reuse.
The Santa Fe County Assessor manages property valuations, utilizing a mass appraisal system to determine taxable values annually.
Parcels are subject to various special districts, including school districts and local utility service areas.
Property insurance premiums are influenced by wildfire risk and the high cost of construction in the region.
The state continues to see moderate net domestic migration, driven by lifestyle seekers and remote workers.
New Mexico is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a comprehensive disclosure statement regarding the condition of the property.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
The cultural and historic heart of the city featuring shops, galleries, and restaurants.
A multi-use path providing connectivity through the city for pedestrians and cyclists.
A world-renowned institution located on Museum Hill.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.