The story of this market
The typical home in ZIP 87740 sells for about $157,000, or $105 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 112 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 87740 — Raton
The housing market in 87740 remains stable with affordable entry-level pricing and a consistent inventory of older, single-family homes. Market activity is modest, driven by local demand rather than speculative investment. Figures for specific metrics like price-cut percentages and exact months of supply are not published at the ZIP level and are omitted.
This ZIP is well-suited for budget-conscious buyers, retirees, and those seeking a quiet, small-town lifestyle with access to outdoor recreation.
Median prices moved up 2.1% year over year.
Homes spend a median of 112 days on market with 6.2 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 17.8% — a mixed stability 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 3.5%/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 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 87740, Colfax County NM
The area is served by Raton Public Schools, which generally maintains a modest academic profile consistent with rural New Mexico districts.
The region faces moderate wildfire risk typical of high-desert environments in Northern New Mexico, necessitating standard fire-mitigation awareness for homeowners.
Economic momentum is driven by local government, healthcare, and tourism sectors, with limited large-scale industrial development currently reported.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (New Mexico) — New Mexico Ad Valorem Property Tax: Tax is calculated by applying a tax rate (expressed in mills) to the net taxable value. The net taxable value is defined as one-third (33.33%) of the taxable value of the property.
The area is largely self-contained, with most residents working within Raton; regional travel relies primarily on I-25 for access to larger employment hubs.
Residents have access to Sugarite Canyon State Park for outdoor activities and the historic downtown district for local shopping and dining.
The rental market is characterized by a high share of 2-bedroom units with stable demand, though vacancy rates remain slightly higher than the national average.
The local economy is anchored by public administration, healthcare services, and tourism-related businesses.
Parcels are subject to standard municipal and county tax levies; no major MUD/PID districts are currently reported.
Property insurance premiums are influenced by regional wildfire risk and the age of the housing stock.
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. Source: NCES EDGE public school locations 2023-24.
Offers fishing, camping, and hiking trails in a scenic mountain setting.
Features preserved architecture, local boutiques, and dining establishments.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.