The story of this market
The typical home in ZIP 88116 sells for about $455,000, or $125 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 145 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 88116 — Elida
The housing market in 88116 is characterized by low inventory and very limited sales activity, typical of a remote rural area. Prices remain stable with minimal year-over-year fluctuation, reflecting a lack of speculative pressure. Most data points for specific market metrics like days on market are estimated based on regional rural trends due to the extremely low volume of transactions.
This ZIP is best suited for those seeking a quiet, rural lifestyle, agricultural workers, or retirees looking for low-cost housing in a small-town setting.
Median prices moved up 2.5% year over year.
Homes spend a median of 145 days on market with 6.0 months of supply — a slower-moving market.
8% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.2% · poverty 14.0% — 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 6.6%/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 3.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 88116, Roosevelt County NM
The area is served by the Elida Municipal School District, which provides small-town educational settings typical of rural Roosevelt County.
The region is subject to high wind events and occasional severe thunderstorms; wildfire risk is moderate due to surrounding agricultural grasslands.
Economic momentum is primarily driven by local agriculture and ranching; there is minimal large-scale commercial development or infrastructure expansion.
Property taxes are assessed by Roosevelt County based on local millage rates; there are no municipal income taxes, and agricultural exemptions are common for rural parcels.
Commutes are primarily local or toward Portales and Clovis via NM-267 and US-70; public transit is not available.
Recreation is limited to local community parks and open-space ranching landscapes; major shopping and dining require travel to Portales or Clovis.
The rental market is extremely thin with very low turnover and limited institutional investor presence.
The economy is heavily reliant on the agricultural sector, specifically dryland farming and cattle ranching.
Transportation is entirely dependent on private vehicles; no public transit infrastructure exists.
There are no major commercial or residential developments currently approved or under construction.
The Roosevelt County Assessor manages property valuations, typically utilizing a mass appraisal system for rural land and residential improvements.
Parcels are subject to Roosevelt County general levies and the Elida Municipal School District tax.
Property insurance premiums are influenced by regional wind and hail risk, with limited carrier competition in rural areas.
New Mexico is a judicial foreclosure state requiring court intervention for the foreclosure process.
Sellers are required to provide a property disclosure statement regarding known material defects.
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.
Small local park serving the immediate town population.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.