The story of this market
The typical home in ZIP 87506 sells for about $1,107,870, or $352 per square foot.
Prices are up +1.4% from a year ago, so sellers still have some momentum. Homes take about 63 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,831 a month.
ZIP 87506 — Santa Fe
The 87506 housing market remains balanced with high-end inventory driving the median price upward. Demand remains steady for luxury properties, though the broader market is seeing a stabilization in price growth compared to previous years.
This ZIP is ideal for affluent families, retirees, and second-home buyers seeking privacy, space, and proximity to the cultural amenities of Santa Fe. It is less suited for those requiring high-density urban living or extensive public transit access.
Median prices moved up 1.4% year over year.
Homes spend a median of 63 days on market with 6.0 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 6.5% — 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 8.1%/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 7.6%/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 87506, Santa Fe County NM
Crime rates in the 87506 area are generally lower than the Santa Fe city average, with property crime being the primary concern. Regional comparisons indicate a moderate safety profile consistent with suburban and rural residential zones.
Schools serving the 87506 area are part of the Santa Fe Public Schools district, which maintains a mixed performance record. Several highly-rated charter and private options are available in the broader Santa Fe region.
The area faces moderate wildfire risk due to its proximity to high-desert vegetation and forest interfaces. Flood risks are localized to specific drainage basins and arroyos common in the Santa Fe landscape.
Economic momentum is driven by the tourism, government, and arts sectors in Santa Fe. Infrastructure development is focused on maintaining access to the northern corridors and supporting low-density residential expansion.
Property taxes are assessed by Santa Fe County based on the property's taxable value, with rates determined by local millage levies. Exemptions are available for primary residences and seniors, and there are no state-level property taxes.
Commuting from 87506 to the Santa Fe employment core typically involves a 15-25 minute drive via US-84/285. Public transit options are limited, making personal vehicle ownership essential for most residents.
The area offers extensive access to high-desert hiking trails, proximity to the Santa Fe National Forest, and several golf courses including those at Las Campanas. Shopping and dining are concentrated in the nearby Santa Fe city center.
The rental market in 87506 is characterized by high-end single-family home offerings with limited inventory. Vacancy pressure is low, and the market is influenced by seasonal demand and the presence of short-term rental properties.
The economy is anchored by state government, the Los Alamos National Laboratory, and a robust tourism and arts industry. The area benefits from a stable employment base centered in Santa Fe.
Transportation is primarily highway-dependent, with US-84/285 serving as the main artery. Public transit is limited to regional bus services connecting to the city center.
Development is strictly managed by Santa Fe County land-use policies, focusing on preserving the rural character and managing water resources. New projects are primarily low-density residential.
The Santa Fe County Assessor manages property valuations, utilizing a market-value approach with periodic reassessments. The office provides online access to property records and tax information.
Parcels in this ZIP are subject to Santa Fe Public Schools district taxes and various county-wide levies for emergency services and infrastructure.
Property insurance premiums are rising due to increased wildfire risk and regional climate factors. Homeowners are encouraged to maintain defensible space to mitigate risk.
New Mexico has seen moderate net domestic migration, with Santa Fe County attracting retirees and remote workers from higher-cost coastal states.
New Mexico is a judicial foreclosure state, requiring court intervention for the foreclosure process. This typically results in a longer timeline for lenders to complete the process.
Sellers are required to provide a comprehensive property disclosure statement detailing known material defects. This is a standard practice in New Mexico real estate transactions.
Data retrieved from data.census.gov 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.
Premier private golf and social club serving the area.
Extensive public lands for hiking, biking, and outdoor activities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.