How much is a home worth in ZIP code 87031?

The typical home in 87031 is worth $325,231, based on the Zillow Home Value Index.

Are home values rising in 87031?

Home values in 87031 are up 1.7% over the past year, and up 6.2% a year over five years.

What is the typical rent in 87031?

A typical home in 87031 rents for about $2,012 a month, a gross rental yield of 7.4%.

What is the property tax rate in 87031?

The effective property tax rate in 87031 is 0.6% — roughly $2,038 a year on a typical home.

ZIP code 87031 has a population of 47,514 and a median household income of $60,902.

HousingHandbookReference data

…

U.S. ZIP Code · NM87031

Valencia County · Albuquerque, NM

Typical home value

$325,231^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.7%
5-year / yr: +6.2%
10-year / yr: +7.7%

Relative price

vs U.S.: +14.5%
vs metro: -7.6%
vs state: +16.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 87031 is worth $325,231 — 7.6% below the Albuquerque, NM median. Over the past year, values have risen 1.7%. Homes here rent for a typical $2,012 a month — a 7.4% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,012^[2]
Gross yield: 7.4%^[2]
Cap rate: 4.5%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $2,038^[3]

#Climate risk

FEMA National Risk Index ratings for Valencia County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively Low
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively Moderate
Winter weather: Relatively Moderate

#Who lives here

Population: 47,514^[3]
Median household income: $60,902^[3]

#Migration

Household moves in and out of Valencia County over a year, from IRS tax-return data.

Net migration: +414^[5]
Moved in: 2,082
Moved out: 1,668

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 17
Elementary: 10
Middle: 2
High: 3

LOS LUNAS HIGH
High · Grades 9–12 · LOS LUNAS
1,450 students
VALENCIA HIGH
High · Grades 9–12 · LOS LUNAS
916 students
LOS LUNAS MIDDLE
Middle · Grades 7–8 · LOS LUNAS
754 students
KATHERINE GALLEGOS ELEMENTARY
Elementary · Grades PK–6 · LOS LUNAS
615 students
SUNDANCE ELEMENTARY
Elementary · Grades PK–6 · LOS LUNAS
591 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield7.4%

Net yield (after ~40% expenses)4.5%

Annual rent$24,142

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,645

Loan principal$260,185

Down payment$65,046

Total interest paid$331,851

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.04

Monthly cost to own$2,086

Monthly rent$2,012

Owning and renting are roughly even.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 59th percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 41st percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 87031?: The typical home in 87031 is worth $325,231, based on the Zillow Home Value Index.
Are home values rising in 87031?: Home values in 87031 are up 1.7% over the past year, and up 6.2% a year over five years.
What is the typical rent in 87031?: A typical home in 87031 rents for about $2,012 a month, a gross rental yield of 7.4%.
What is the property tax rate in 87031?: The effective property tax rate in 87031 is 0.6% — roughly $2,038 a year on a typical home.
Who lives in 87031?: ZIP code 87031 has a population of 47,514 and a median household income of $60,902.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

87112 vs 87031 →
Albuquerque, NM
Typical home
$323,801
Gross yield
5.5%
87110 vs 87031 →
Albuquerque, NM
Typical home
$321,206
Gross yield
5.2%
87123
Albuquerque, NM
Typical home
$342,645
Gross yield
4.4%
87004
Santa Ana Pueblo CDP, NM
Typical home
$346,240
Gross yield
—
87107
Albuquerque, NM
Typical home
$348,514
Gross yield
4.4%
87124
Rio Rancho Estates CDP, NM
Typical home
$350,923
Gross yield
6.3%

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Compare ZIPs

Pit ZIP 87031 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NM87031

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