The story of this market
The typical home in ZIP 88424 sells for about $125,000, or $112 per square foot.
Homes take about 257 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $980 a month.
ZIP 88424 — Grenville
The housing market in 88424 is extremely stagnant, characterized by very low inventory and high days-on-market. The area is primarily rural with a high percentage of seasonal homes, and there is insufficient transaction volume to support a dynamic market trend.
This ZIP is suited for individuals seeking extreme rural isolation or seasonal retreat, rather than commuters or families requiring proximity to employment and services.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 257 days on market with 0.0 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 14.0% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 88424, Union County NM
The area is subject to rural wildfire risks typical of high-plains New Mexico, with insurance availability often constrained by regional hazard exposure.
Property taxes are assessed by Union County based on local millage rates; there are no special municipal districts due to the unincorporated nature of the area.
Recreation is limited to expansive rural landscapes and open space; there are no major commercial shopping or entertainment districts within the ZIP.
The rental market is extremely thin with a high share of seasonal housing units, making vacancy and rent trajectory data unreliable for investment analysis.
The local economy is primarily driven by agriculture and ranching, with no major corporate employers located within the ZIP boundaries.
Transportation is entirely dependent on private vehicles via rural state highways; there is no public transit infrastructure.
The Union County Assessor manages property valuations, which are generally low-density and agricultural-focused.
Parcels are served by basic county-level services and rural school districts; there are no MUDs or PIDs.
Property insurance premiums are influenced by rural fire risk and the distance from emergency services.
Data retrieved from ZCTA-level census tables; figures reflect low-density rural characteristics.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.